This is what you need to know today. 

IEA has just come out with the statement that oil prices may have bottomed.  This is in sharp contrast to an extremely bearish statement from the agency last month.   According to IEA, world consumption will increase by 1.2 million barrels and production will decrease bringing surplus from 1.7 million barrels per day to 200K barrels per day in the second half of this year.