International Energy Agency (IEA) Executive Director Fatih Birol: oil prices could rise from mid-2016 on a lower investment in the oil industry

Market news

27 October 2015

International Energy Agency (IEA) Executive Director Fatih Birol: oil prices could rise from mid-2016 on a lower investment in the oil industry

The International Energy Agency (IEA) Executive Director Fatih Birol said on Monday that oil prices could rise from mid-2016 on a lower investment in the oil industry.

"If it comes true, this will be the first time in two decades we will see oil investments declining for two consecutive years," he said.

Birol pointed out that oil investments already dropped by more than 20% in 2015.

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