IEA report points to buoyant oil demand
Says that more investment will be needed to ensure adequate supplies after 2020; US expected to be prime player in oil production
Predominantly because of strong economic growth in Asia, global oil demand will increase by some 6.9 million barrels per day to 104.7 million bpd by 2023, according to the International Energy Authority’s Oil 2008 report, the agency’s latest five-year forecast for global oil markets.
The report say....
[additional news subjects in this story]
Excess stock disappearing
Changing demand mix
Slow investment recovery
U.S. role in production growth
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