The International Energy Agency, which advises industrialized nations on energy policy, warned that the supply shortfalls that pushed oil prices into triple-digit territory this year are far from resolved, and could lead to a new period of high prices.
But even with the lowered demand forecast, the agency warned that the period of lower prices may not last as producers fail to increase oil supplies to meet the developing world’s rising needs. It expects prices to average more than $100 a barrel through 2015, and possibly rise to $200 a barrel by 2030.
But even with the lowered demand forecast, the agency warned that the period of lower prices may not last as producers fail to increase oil supplies to meet the developing world’s rising needs. It expects prices to average more than $100 a barrel through 2015, and possibly rise to $200 a barrel by 2030.
