It did not respond to OPEC to cut production to raise prices yet The International Energy Agency
consumers do not feel safe because of the sharp decline in oil prices, which go back up sharply by 2021.
it warned. The agency said in its latest report, it expects the recovery in oil prices in 2017. She pointed to other forecasts indicate that the recovery will be followed by a sharp rise as a result of decreasing the supply of oil producers due to declining investments in this sector who are suffering from falling prices at the moment. The price of Brent crude was its lowest in 13 years at $ 28.88 a barrel last January.
The price of crude has recovered somewhat, but it is still very much lower than the June 2014 levels, when prices touched 115.00 dollars a barrel. Brent prices rose by 4.9 percent on Monday to $ 34.62 a barrel. Executive Director of the International Energy Agency's Fatih Birol said that "it is easy for consumers to be fooled by the large inventory is currently low prices, but we should be writing on the wall: the historical decline of investments that we see now raises a lot of exclamation marks about surprises that could see the oil security level and that in the not too distant future.
" Enormous stocks He predicted consultants to the International Energy Agency to reach the supply of oil in the world markets 4.1 million barrels per day in the period from 2015 and 2021, which indicates a decline compared to the world about supply, which rose to 11 million barrels per day in the period from 2009 to 2015 .