EnergyWatch

IEA warns against new oil price increases

The price of oil has risen significantly this year to the current price of USD 71. This level makes the IEA warn against consequences for new price increases.

Photo: /Ritzau Finans/AP/Jacob Ford

The price for a barrel of oil has now increased to a level that is possibly unsustainable in the long-term, according to an assessment by the International Energy Agency (IEA) following a substantial increase of the oil price to a current level of USD 71. The increase figures in a monthly report by the name "Mixed signals", which the agency has just published.

"Clearly, oil prices at USD 70/bbl for Brent, are less comfortable for consumers than they were at the start of the year, and the IEA has regularly warned of the dangers of prices rising even higher. Only time will tell if our current demand forecast proves accurate, but the risks are currently to the downside," writes IEA in its prognosis.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

New developer has 11GW offshore wind ready from inception

Profiles from European Energy, Ørsted and Centrica team up to found a new company aiming to develop solar, onshore wind, offshore wind and do power trading. Theres a hole in the market for us right now — in five years it will be closed, says director.

CIP hires Dutch profile

Current CFO at TenneT Otto Jager will join CIP as partner, with a primary focus on flagship funds.

Further reading

Related articles

Latest News

See all jobs