HOUSTON – Crude prices may have further to fall before the oil market can re-balance global supply and demand and fix the oil glut that toppled $100 oil last year, the International Energy Agency said Friday.

The Paris-based group predicted growth in worldwide demand for oil would slow for the rest of the year and in 2016, and that global supply growth would continue to outpace the world’s appetite for crude.

“The bottom of the market may still be ahead,” the group said. “The oil market was massively oversupplied in 2015, and remains so today. It is equally clear that the market’s ability to absorb that oversupply is unlikely to last.”