IEA Says 'Expensive Energy' Is Back

摘要

Higher oil prices might be around for a while, as the market needs more crude oil production, which will come at the expense of thinning spare production capacity, says the International Energy Agency (IEA). In its latest monthly Oil Market Report, released Friday, the IEA notes that the global oil market has 2 million barrels per day of spare capacity left, "with further reductions likely to come."