Oil prices are on the decline once again and this is the much needed news that the world needed. The International Energy Agency said the oil market would be “oversupplied” in 2016 and noted that the prices would fall even further in the coming year. The IEA also mentioned that the demand for oil would slow dramatically next year. More specifically the IEA reports that the global oil-demand will slow down to 1.2 million barrels a day in 2016. Currently the world demand 1.4 million barrels a day. Read more →