Crude oil prices were higher Tuesday, snapping a 4-day losing skid after the International Energy Agency predicted producers would trim investment in exploration and rigs.
IEA estimated that investment in oil would decline more than 20 percent this year.
Oil prices are unlikely to return to $80 a barrel until at least 2020, the agency warned.
Dec. oil rose 34 cents, or 0.8%, to settle at $44.21/bbl on Nymex.
The material has been provided by InstaForex Company – www.instaforex.com