Global energy agency says oil prices set for swift recovery but no return to recent highs

February 10, 2015 1:01 AM

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Global energy agency says oil prices set for swift recovery but no return to recent highs

A partial view of the pumping station of the oil pipeline Friendship I at Tupa, Slovakia, near the Hungarian border, Monday, Febr. 9, 2015. The renewed 128km pipeline connecting Szazhalombatta, just south of Budapest, Hungary, and Sahy, Southern Slovakia, was ceremonially inaugurated by prime ministers of Hungary and Slovakia on Monday. (AP Photo/MTI, Peter Komka) (The Associated Press)

PARIS – The price of oil is poised for a "relatively swift" recovery following the recent collapse to under $50 a barrel, but it will not come close to returning to the highs of past years, the International Energy Agency predicted Tuesday.

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