May 1, 2016 / 4:41 AM / 3 years ago

IEA chief says oil price bottoming depends on global growth

TOKYO, May 1 (Reuters) - International Energy Agency (IEA) chief Fatih Birol said on Sunday that oil prices may have bottomed but that would depend on global economic growth.

Asked if oil prices had reached a bottom, Birol told Reuters: “It may well be the case, but it depends on economic growth.”

He expected global oil demand to grow by 1.2 million barrels per day this year while non-OPEC oil production would fall by more than 700,000 bpd. (Reporting by Osamu Tsukimori; Editing by Jacqueline Wong)

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