In other news
Oil prices may have rebounded off 12-year lows struck last month, but any hope for a broader recovery in the market would be misplaced, says the IEA.
The global oil surplus will be bigger than previously estimated in the first half, increasing the risk of further price losses, as OPEC members bolster production.
European stock markets have steadied at the start of trading after sharp falls the previous session on banking sector worries.
The global stocks rout has intensified with equities in Tokyo sliding the most since August and index futures indicating US stocks will add to declines.
The yen has strengthened past ¥115/$ for the first time in more than a year and Japan’s benchmark 10-year yield fell in an unprecedented decline below zero.
Wall Street stocks have finished sharply lower, joining a European equity rout, as fears of an economic slowdown weighed especially hard on financial and technology shares.
Tokyo stocks have led a rout across Asian markets, while Japanese government bond yields turned negative, the dollar dived against the yen and gold jumped.
Oil prices have rallied after a three-day sell-off that saw the US benchmark sink back below $30 a barrel, analysts warned the ongoing supply glut will keep a lid on oil.