"The OPEC+ countries face a major challenge in 2020 as demand for their crude is expected to fall sharply," the Paris-based agency said in a monthly report
The IEA expects there will be 330 million electric cars on the road by 2040
Spike in oil prices will translate into a matching or higher increase in fuel prices in domestic market
the minister signalled no major change in approach in Saudi Arabia
June growth rate falls to 0.2%, from 4.3 % in May, as refinery, steel and cement production weakens
US crude oil output rose above 10 million barrels per day (bpd) late last year for the first time since the 1970s, overtaking top oil exporter Saudi Arabia