The International Energy Agency (IEA) warned yesterday of an increasing tightness in the world oil market over the next five years. One barrel of Brent crude settled at USD 75.78/barrel yesterday.
According to the July report of the IEA, released yesterday, the oil market "looks extremely tight in five years time" as it comes under pressure from accelerating consumption, reduced output in mature areas such as the North Sea and a delay in new production projects, Financial Times reports.World oil demand is forecast to grow at an annual rate of 2.2 per cent over the next five years
Dienstag, 10.07.2007, 08:20 Uhr
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