IEA: Revival in Oil Investments After Two-Year Drought

Oil companies are beginning to see a revival in investments following a two-year drought as OPEC agrees to larger production cuts, the International Energy Agency said in a report on Monday.

OPEC's December agreement to cut production will ease risks associated with future supply difficulties, the agency stated.

The IEA sees "signs of modest recovery" in spending following two years of weak investments.

The agency has doubled its production growth outlook outside OPEC next year as more U.S. shale producers emerge.

How should investors play Trump's tax plan? Click here for a game plan from Jim Cramer and four of our top experts.


More from Stocks

Quick Read: 3 Things for Investors to Know Before Wednesday's Trading Session

Quick Read: 3 Things for Investors to Know Before Wednesday's Trading Session

Replay: Jim Cramer on the Markets, Oil, General Electric, Zillow and Micron

Replay: Jim Cramer on the Markets, Oil, General Electric, Zillow and Micron

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

Micron Shares Soar; Chipmaker Is 'Managing for Profitability' Now, Says Analyst

Micron Shares Soar; Chipmaker Is 'Managing for Profitability' Now, Says Analyst

Dow Slips 178 Points; S&P 500 and Nasdaq Also Decline

Dow Slips 178 Points; S&P 500 and Nasdaq Also Decline