PHOTO
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) ((osamu.tsukimori@thomsonreuters.com, +813 6441 1857, Reuters Messaging: osamu.tsukimori.thomsonreuters.com@reuters.net))
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) ((osamu.tsukimori@thomsonreuters.com, +813 6441 1857, Reuters Messaging: osamu.tsukimori.thomsonreuters.com@reuters.net))
