IEA Sees Oil Rising to $80 by 2020 as Output Growth Slows

  • Fatih Birol sees seeds of next price rally in spending cuts
  • Oil prices of $100 a barrel "unlikely for foreseeable future"

Oil's Slide: Do Prices Have More Room to Fall?

Oil prices will reach $80 a barrel by 2020 as global oil supply growth is “seriously” plunging, the head of the International Energy Agency said, suggesting the light at the end of the tunnel for the energy industry is still far away.

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