| The oil price may be falling and global demand is “remarkably” subdued, according to a report last week from the International Energy Agency. But this has not stopped the former chief executive of BP, Tony Hayward, from issuing an uncomfortable warning.
In an interview with the FT, Mr Hayward, who these days runs an oil company in Iraqi Kurdistan, worries that international sanctions against Russia’s oil sector are storing up trouble for the west. They risk cutting investment and damaging supplies from the world’s third-largest producer. The threat may have been masked by increases in American liquid petroleum production, which has surged above its 1970 zenith...............................................Full Article: Source
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