Global oil prices likely to stay relatively low: Biden

WASHINGTON (Reuters) - Global oil prices are likely to remain relatively low over the next several years, U.S. Vice Joe Biden told a Caribbean energy security summit on Monday.

"Now under $50 a barrel ...it is likely to remain relatively low for at least the near term, the next several years," Biden told the summit.

Oil prices have fallen almost 60 percent since June to below $49 a barrel on global oversupply.

(Reporting by Lesley Wroughton; Editing by Sandra Maler)