Last year, the agency had forecast a "relatively swift" recovery. Instead, oil prices have continued to fall, hitting less than $30 a barrel, a level last seen in 2003.
Iron ore gained for the fourth week in five, as the embattled steelmaking commodity made a push for $50 a tonne, the highest level it's been since mid-November.
The Casino project in the Canadian Yukon Territory passed a major milestone last Thursday with the announcement that the project will move to a higher level of environmental assessment.