IEA Says Oil Supplies May Not Keep Up With Demand

Despite what appears to be a saturated oil market in 2014, oil producers around the world will struggle to meet rising demand over the next few decades. In its latest annual World Energy Outlook, the International Energy Agency (IEA) warned that the current period of oil abundance may be fleeting, and in fact, without heroic levels of production increases, oil markets will grow dangerously tight in the coming years. Global oil demand is expected to increase by 37 percent by 2040, with a dominant proportion of that coming from developing countries…

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via OilPrice.com Daily News Update http://ift.tt/1Bckuun

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