Bank Of Baku

IEA warns OPEC not to cut oil supply

IEA warns OPEC not to cut oil supply
# 17 February 2009 13:09 (UTC +04:00)
Baku– APA-Economics. The executive director of the International Energy Agency has warned that there could be an oil ’supply crunch’ beginning in 2010 once global demand recovers. Nobuo Tanaka said he is concerned that some oil producers are deferring projects to expand supply. He said oil demand growth is likely to resume next year after its first drop in a generation.
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