The Guardian | Oversupplied oil market to rebalance by next year, says IEA The Guardian The International Energy Agency (IEA) said it expects the oversupplied oil market to rebalance by next year, as non-Opec production records its biggest decline in a generation. An oil glut has prompted a slump in crude prices from a peak of $115 (£80 ... Oil market, prices to return to balance by 2017: IEA chief Fatih Birol |