Don’t expect a big rebound in oil prices this year, or even next. <br /><br /> That’s the opinion of the International Energy Agency. It sees benchmark Brent crude averaging $55 a barrel this year and $60 next year as stockpiles continue to increase.<br /><br /> In its Medium Term Oil Market report the IEA says prices, which slid from $115 a barrel in June 2014 to a near six-year low close to $45 in January 2015, would likely stabilise at levels substantially below the highs of the last three years.<br /><br /> The IEA, which advises industrialised countries on energy policy, says shale oil has changed the market. <br /><br /> It is predicting that – thanks to shale – the United States will remain the biggest contributor of supply growth over the next five years with production pausing but continuing, despite the low prices.
