Business News
Energy agency sees oil demand and prices rising through 2014
Jun 29, 2009, 8:54 GMT
Paris - With the economic crisis bottoming out and recovery forecast to begin in some countries as early as the end of this year, global demand for oil and its cost are also set to rise, the International Energy Agency (IEA) said Monday in Paris.
Depending on the strength of the economic recovery, oil demand is projected to grow at an average of between 0.4 and 1.4 per cent per year after 2009, the IEA said in its Medium-Term Oil Market Report.
Projections continue to show global oil demand falling for 2009, the first time since the IEA was founded in 1974 that the world experienced two consecutive years of declining demand for crude oil.
In addition, the price of a barrel of oil will be between 51 and 72.40 dollars in 2014, again depending on the extent of the rebound, the IEA said.
However, the agency issued this projection with the caution that 'speculative financial flows into and out of futures markets' can influence the price of oil as much as market fundamentals.
The price of a barrel of oil soared to 150 dollars a barrel last summer before plunging to near 30 dollars because of the economic crisis.
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BR--------Raised in New York City--------Jun 29th, 2009 - 18:30:01
Now, here's ANOTHER group of 'supply side' experts...IAEA....putting out 'predictions' of an upturn in demand for OIL even as the past two years consumers decisions fly the opposite banner in their faces!!!
Perhaps the Lundbergs and the rest of the traders can just 'declare it so' and all will be instanly more profitable for them!!! Ahhhh yes, if only it could be so!!!!
What a set of balls these pigs have ! Unbelievable! The arrogance is so thick, one could cut through it with a dull knife! Hold on a minute big shots!!!.....Jobs are still falling in numbers in the DEVELOPED world, and these jokers are already calling the contest of wills versus fear now won by the dividend holders of the planet!!!
Wake up little pigs---not so fast....the DEMAND is NOT rising....and we consumers are just getting started. We will not buy your overpriced gasoline here in the states nor anywhere else until it reaches the non-greed levels of true supply and demand, not the supply and demand levels you pigs CHOOSE IT TO BE AT YOUR AMPLY STOCKED KITCHEN TABLES OVER YOUR BLOATED BREAKFASTS EVERY MORNING.
THE BOYCOTT CONTINUES ---------Folks, just put in a dollar or two in your tanks as you head out your doors every morning and then drive on a bit further to where the gas stations not playing the gouging games are and then fill up your tanks with the cheaper stuff. YOU DONT HAVE TO LISTEN TO THEM OR PLAY THEIR GAMES. They hate seeing this message---Go ahead and save your selves a TON of money this summer...and, be safe and, happy motoring!!
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