| In the 2013 edition of the “World Energy Outlook”, published this month, the IEA raised its forecasts for non-OPEC supply and lowered its ‘call on OPEC crude’ estimates. It highlighted that the growth in oil production in North America and Brazil will likely reduce the world’s dependence on Middle Eastern oil in the near term, but OPEC is expected to play a more dominant role after 2020.
Elsewhere, it left its forecasts for global primary energy demand growth unchanged, with China, India and the Middle East expected to largely contribute to the increase...............................................Full Article: Source
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