`` Oil prices have not rebounded Movement.up.gain alarmingly because the market is still working off the gluts Oversupply built up in 2015 , '' the IEA said .

U.S. private payrolls recorded their largest gain Movement.up.gain in 1-1/2 years in June as businesses stepped up hiring , reinforcing views that the economy had rebounded Movement.up.gain from its first-quarter slump Movement.down.loss .

Libya 's oil production has rebounded Movement.up.gain to more than 800,000 barrels per day , the National Oil Corp said this week , eight times the amount of just a few months ago .

Domestic U.S. output has rebounded Movement.up.gain by almost 15 % since the most recent low Position.low in mid-2016 , and increasing Movement.up.gain drilling activity for new production means output is expected to grow Grow.strong further , as producers are attracted by climbing Movement.up.gain prices .