Oil Seen Below $100 Until 2020 by Ex-IEA Chief Due to U.S. Shale
- Production of U.S. shale to slow gradually after 2020-2025
- Gap between crude supply, demand to continue until year-end
Is the Crude and Commodities Relief Rally for Real?
This article is for subscribers only.
Oil prices won’t rebound to $100 a barrel before 2020 to 2025, when U.S. shale production will gradually start to decline, according to a former head of the International Energy Agency.
Demand for crude in China, India, Southeast Asia and Africa will drive up global prices in the “long term,” Nobuo Tanaka, who served for four years as the IEA’s executive director, said in an interview in Abu Dhabi. Tanaka left the IEA, an advisory body to the world’s industrialized nations, in September 2011 and currently works as a professor at the University of Tokyo School of Public Policy.