`World oil prices likely to settle at $64 up to 2010′: IEA

World oil prices are likely to settle at $64 per barrel up to 2010 fuelled by high demand and lack of supplies, an international oil expert has said.

“Looking at oil projects coming on stream in West Asia and Asia and comparing this against demand prospects, we think world oil prices may still stay high at least up to 2010,” said Mr Fatih Birol, Chief Economist and Head of Economic Analysis Division at the Paris-based International Energy Agency (IEA).

Hindu Business Line