IEA says optimistic to think oil price will fall much

It would be “very, very optimistic” to assume oil prices will fall much in the next few years, the chief economist at the International Energy Agency (IEA) said in a interview with German TV published on Tuesday. “The markets are very tight now and the result of this tightness is the very high prices,” IEA chief economist Fatih Birol was quoted as saying by German state broadcaster ZDF.

“And when we look a couple of years ahead, we should be very, very optimistic if we would believe that the current oil prices will go substantially down,” he said.
“They can possibly go a couple of steps downwards but to expect that they will go substantially down to the price we