IEA: Oil prices will be much more volatile in 2017- RTRS

Fatih Birol, executive director of the International Energy Agency (IEA), the Paris-based global energy watchdog, noted on Sunday that global oil prices will witness "much more volatility" in 2017, while adding that he sees market rebalancing in the first half of this year.

Key Quotes:

"I would expect that we will see a rebalancing of the markets within the first half of this year"

 "But what I want to say (is) that we are entering a period of much more volatility in the market ... the name of the game is volatility"

"I expect the U.S. shale oil will go back to increasing production this year"

"This year, if there are no major investments coming we may well see in a few years from now significant supply-demand gap with serious implications on the market"