The world’s fuel producers probably won’t curb enough oil production to realign crude supply and demand until early 2017, with the United States making up the bulk of the decline, the International Energy Agency says. And even when the oil market rebalances and buyers begin to draw from oil stocks, the global crude inventory may only register its first annual decline a year later as the market slowly burns off the record amount of oil investors have put in storage. That could hamper any major crude price rallies for a while. “It is very tempting, but also very dangerous, to declare that we are in a new era of low oil prices,” the Paris-based IEA said in its Medium-Term Oil Market Report for 2016, released early Monday. “But at the risk of tempting fate, we must say that today’s oil market conditions do not suggest that prices can recover sharply in the immediate future – unless, of course, there is a major geopolitical event.” The IEA estimates daily production exceeded global demand by on average 2 million barrels in 2015 and will outpace demand by 1.1 million this year and 100,000 barrels in 2017 – the year when the mismatch will eventually revere. The new due date for the oil market tipping the other way is now more than a year beyond what the IEA and many analysts initially expected.