​IEA predicts further decline in oil prices

​IEA predicts further decline in oil prices

​IEA predicts further decline in oil prices The steep drop in oil prices is set to continue according to the International Energy Agency. With prices down 30 per cent since the summer, weaker demand, high US production and a strong dollar, the market is likely to see even lower prices to come. OPEC is not prepared to reduce production currently, preferring to drop prices in order to maintain its market share.