IEA: Oil price will not reach USD 80 before 2020
Oil consumption is struggling to catch up with the growth in the supply of oil. But the falling oil price means the taps are being turned off on oil investments including US shale, according to the International Energy Agency.
BY CHRISTIAN BARTELS
The price of crude oil will not reach USD 80 before at least the end of 2020, despite an unprecedented drop in investments aimed at finding and extracting oil, according to a new report from the International Energy Agency (IEA), World Energy Outlook, reports Reuters.
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