While the price of crude continues to fall, Fatih Birol, chief economist of the International Energy Agency (IEA) said Wednesday during a press conference in London that the decline of oil will be determining the first sector in the years ahead, before changing demand.
Mr. Birol also believed that oil demand had "reached a peak in the OECD countries (Organization for Economic Cooperation and Development), hit by the financial crisis.
In 2030, it will draw 45 million barrels per day, equivalent to 4 times the current production capacity of Saudi Arabia to offset the decline in existing fields, also emphasized the IEA in a statement published During the press conference.
In its annual report, the IEA warned that investment "massive" must be committed within twenty years if the world wants to avoid another oil crisis, and warned against the decline in production of oil fields .
We can not say that nothing has been trying to trace the course.
Will follow suit, the chairman of Gazprom Alexei Miller predicted for its shortage of oil on the international market in the near future as a result of the global financial crisis.
"I think that this crisis means that the shortage will be felt much sooner (we might think)", noted Mr. Miller, explaining that this would be the result of under-investment, which has already begun in production.
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