IEA predicts a volatile world oil market

Sees possible oil supply shortfall in early 2020s, rising natural gas demand and growing use of renewables for power generation

Alan Bailey

for Petroleum News

In its recently published World Energy Outlook 2018 report, the International Energy Authority sees major changes impacting world energy markets, with the growing use of electrical power, the increasing use of renewable energy sources, instability in oil markets and the globalization of natural gas....

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Three scenarios

Transformation of electricity sector

Importance of solar PV

Impact on oil and gas demand