IEA says oil prices might have bottomed out

Chevron had said in April it would sell to China's Himalaya Energy Co. the wholly owned subsidiaries that operate three gas fields, which together account for 58 percent of Bangladesh's gas production.

"For prices there may be light at the end of what has been a long, dark tunnel, but we cannot be precisely sure when in 2017 the oil market will achieve the much-desired balance. It is clear that the current direction of travel is the correct one, although with a long way to go," the IEA said. - Reuters