Recession Over? Not According To The IEA

oil hands

The end of the recession seems like a forgone conclusion.

Plenty of economists think so, stocks are climbing, and the U.S. Fed said today that economic activity is “levelling out.”

But there’s one hold out: the International Energy Agency, who says oil fundamentals remain pretty bleak.

In their words, “evidence of a bottoming out of the global recession is patchy, and global gasoil demand – a key indicator of economic health – remains significantly subdued.”

Sure, oil prices are climbing, and OPEC is quietly increasing production, but actual demand isn’t isn’t racing with the rest of the economy.

NOW WATCH: Briefing videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.