Oil market 'eerily' calm, despite conflicts: IEA | Bangkok Post: news

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Oil market 'eerily' calm, despite conflicts: IEA

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The oil market is "eerily" calm despite conflicts in key regions, undermined by weak demand which is holding down oil prices, the IEA said on Tuesday. 

Pump jacks are seen at dawn in an oil field over the Monterey Shale formation on March 24, 2014 near Lost Hills, California

"Despite armed conflict in Libya, Iraq and Ukraine, the oil market today looks better supplied than expected, the International Energy Agency said lowering its forecasts for oil demand this year and next.

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