The oil markets should be rebalanced and prices should be in the $80 a barrel range by 2020, according to a new report issued by the International Energy Agency. The Paris-based watchdog’s World Energy Outlook 2015 states that the “process of adjustment in the oil market is rarely a smooth one” but that there should be an equilibrium by the end of the decade. The forecast will not be met with much enthusiasm by many of the world’s oil producers, because most rely on oil revenues as the main source of government income. The Dec Brent contract trades flat at $47.19 a barrel.