The International Energy Agency's most recent global oil outlook presents a reassuring assessment of the prospects for worldwide energy supplies. But it also draws attention to concerns about energy s..
The International Energy Agency's most recent global oil outlook presents a reassuring assessment of the prospects for worldwide energy supplies. But it also draws attention to concerns about energy security, investment, the environment and energy poverty.
Demand for oil will continue to expand, at 1.6% a year, from the present 82 million barrels/day (MMbpd) to 121 MMbpd in 2030. Inter-regional trade in oil will double to 65 MMbpd. Most of that additional trade will have to pass through vital chokepoints, sharply increasing the possibilities of a supply disruption. More and more oil will come from fewer and fewer countries, primarily the Middle East members of OPEC. The dependence of a
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