International Energy Agency warns of future instability as low price of Brent crude deters investment in new oilfields
The world could face an oil supply shortage by the end of the decade, triggering large swings in the price of the commodity, the International Energy Agency has warned.
In its annual publication World Energy Outlook, detailing expectations for global energy trends, the IEA warned that the recent low price of oil could have serious ramifications within years.
Related: Energy supply cuts may send fuel bills soaring
Related: Paris climate deal at risk unless countries step up plans, says watchdog