Oil prices are no longer falling by the day, but the slide may have stopped for all the wrong reasons, the International Energy Agency warned Tuesday.
Crude prices dropped below $27 per barrel last month, and have since perked up to around $30.
The Paris-based IEA called the recent rise in prices a “false dawn,” debunking some of the reasons given for the recovery: speculation about an OPEC production cut, hopes for higher demand, the prospect of a weaker dollar, and slowing U.S. production.
