Oil Demand to Outpace Supply Growth in the Medium-Term – IEA

The International Energy Agency has indicated in its medium-term assessment that global supply will find it hard to meet sharply rising demand over the next five years, contrary to expectations in some industry quarters that conditions may soften to bring down the record-high oil prices, according to Dow Jones.

The agency’s assessment, which forecasts conditions through to 2013, sees no respite for consumers as oil supplies will be strained even further, even though demand could fall as a result of weaker economic growth.

RedOrbit