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IEA predicts $145 oil as it plays down fracking revolution

Posted on 26 November 2013

The International Energy Agency (IEA) has toned down previous estimates of the impact of North American shale fields on oil prices, suggesting oil will rise steadily to $145 per barrel (pb) by 2035.
The 2012 World Economic Outlook’s central policy scenario produced a price of $125pb in constant dollars by 2035. Earlier this year the agency estimated that US oil production had grown 50% since 2008………………………………………..Full Article: Source


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