The International Energy Agency predicts that oil

The International Energy Agency predicts that oil prices will fall for another five years

it is reported that the International Energy Agency (IEA) predicts that the oil market will be significantly weak by the end of 2017. According to the forecast, the average import price of a barrel of oil will continue to decline, falling to about $89 in five years. Experts from the International Energy Agency expect the average price this year to be $107 a barrel

recently, Maria van der hoofen, executive director of the International Energy Agency, said at the press conference of the international crude oil market Medium-term Forecast report that although the political situation in the Middle East is unstable, the prospect of the crude oil market is still better than expected, mainly because Iraq has achieved the most crude oil production. This material has been widely used in auto parts with a high record. The international energy agency believes that Iraq has the potential to leap to a more important energy supplier than Russia, which the company calls the new plant "the first step to achieve the goal of zero landfill", and the oil exploitation in Saudi Arabia and Libya is also good. "Therefore, we are optimistic that the tension in the oil market will begin to ease." Van der hufen said. However, she also warned that the economic crisis and political problems of some oil exploration countries may lead to oil price fluctuations

in addition to the increase in oil exploitation in the Middle East, the International Energy Agency also predicts that the exploitation in North America will rise. Therefore, it is expected that the supply of world crude oil market will increase in the next five years. The economic depression also depressed oil prices. Experts predict that the growth of oil demand will be weak. The international energy agency lowered its forecast for global oil demand growth from 8% to 7%. According to the forecast report, the oil demand will increase by 1.2% annually before 2017, and finally reach 95.7 million barrels per day. The average daily demand last year was still 89million barrels. By 2017, crude oil production will reach 102million barrels per day. (it is reported that the International Energy Agency (IEA) predicts that the oil market will be significantly weak by the end of 2017. According to the forecast, the average import price of a barrel of oil will continue to decline, falling to about $89 in five years. Experts from the International Energy Agency expect the average price this year to be $107 a barrel

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