SaxoTV

Oil not back to USD 80 per barrel until 2020 - World Energy Outlook

886 views
November 11, 2015 OI, commodities, commodity, commodity market, commodity price, commodity strategy, commodity trading, emerging markets, energy, energy and tech companies, energy companies, energy demand, energy efficient, energy efficient companies, energy efficient company, energy industry, energy information administration, energy market, energy market in asia, energy prices, energy sector, energy stock prices, energy stocks, energy supply, energyconsumption, energysector, energía, international energy agency, ioil, oikl, oil, oil 100 price, oil 80 a barrel, oil and gas, oil and gas engineer, oil and gold, oil asia, oil barrier, oil bounce, oil cargo, oil commodities, oil companies, oil company, oil consumer, oil crash, oil crisis, oil currencies, oil currency, oil decline, oil declines, oil demand, oil down, oil drop, oil egypt, oil equity, oil exploration, oil futures, oil gains, oil grilling, oil growth, oil hits 80 dollars, oil industry, oil inventories, oil iran, oil levels, oil libya, oil market, oil markets, oil news, oil outlook, oil pressure, oil price, oil price fall, oil prices, oil prices 2015, oil prices historic, oil producers, oil production, oil range, oil refinery, oil sector, oil selloff, oil services sector, oil shutdown, oil spread, oil stockpiles, oil stocks, oil supplies, oil supplies threatened, oil supply, oil trading, oil trading', oil up, oil us shutdown, oil wealth, oilsupply, ole hansen, saxo tv, tradingfloor.com, world energy outlook
Oil is unlikely to return to USD 80 a barrel before the end of the decade, despite cutbacks in investment, as annual demand growth struggles to top one million barrels per day, that's according to the the International Energy Agency.

In its World Energy Outlook, the IEA's executive director Fatih Birol points out that declines in oil production spending will see a reduction in production and so lead to a steady price rise; "In the last 25 years, we have never seen two consecutive years where the investments are declining and this may well have implications for the oil market in the years to come." 

Saxo Bank's Head of Commodity Strategy Ole Hansen gives us his analysis of the latest IEA report and what this means for traders.