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IEA warned of the danger of maintaining high oil prices

IEA warned of the danger of maintaining high oil prices

The International Energy Agency believes that high oil prices can continue in the near future, and this will threaten global economic growth.

Photo: Nick Oxford / Reuters

The International Energy Agency dropped demand for oil this year and in subsequent years as a result of increased threats to global economic growth. At the same time, the IEA warned that a reduction in the reserve supply of oil would maintain high prices. This is in a study by an agency called "The Future of Petrochemistry", excerpts from this document are given on the IEA website.

The IEA has lowered its estimate of global oil demand in 2018 and 2019 by about 110 thousand barrels per day compared to the previous forecast. So, according to experts, the growth this year will be 1.3 million and following – 1.4 million barrels per day.

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