- The IEA’s newest projections call for $80/bbl oil by 2020.
- The agency projects that emerging markets will drive global oil demand to 103.5 million bpd by 2040.
- The IEA projects that oil investment cuts will spill over into 2016.
The International Energy Agency (IEA) released its brand new World Energy Outlook on Tuesday. The report includes the IEA’s most up-to-date oil demand, production and pricing estimates in what has been an extremely volatile and unpredictable global commodities market.
The Numbers
In its base case, the IEA is predicting that oil prices will rebound to $80/bbl by 2020. The agency is projecting that global demand growth will rise by about 900,000 barrels ...
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