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International Energy Agency warns of future oil supply crunch

Posted on 13 November 2013

The International Energy Agency has sounded the alarm about a potential oil supply crunch and higher prices as key Gulf producers delay investment in the face of surging US shale output.
In a strident warning against complacency in the oil market, the developed world’s energy body said key Gulf producers have been adopting a “wait and see approach” to investment, because of the perception that the US shale revolution would produce an “abundance of oil”………………………………………..Full Article: Source


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