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Oil Spikes Back To $42 After IEA Comments

Forget Doha, says the International Energy Agency (IEA), bet it all on US production crashing.

First, IEA says Doha Don't Matter...

A deal to freeze oil production by OPEC and non-OPEC producers will have a limited impact on global supply and markets are unlikely to rebalance before 2017, the International Energy Agency (IEA) said on Thursday.

The IEA, which oversees the energy policies of industrialized nations, said even though the decline in U.S. output was gathering pace and Iran was not adding as many...