Nearly 3% of output vulnerable if oil falls to $80 – IEA
Nearly 3% of global oil production is vulnerable to cuts if prices fall to $80 per barrel, making some projects in Canada, Angola, Brazil and Norway unprofitable, the International Energy Agency said.
The estimate was included in a monthly report in which the IEA also cut its forecasts for oil demand and said prices may drop further.
A tumble in the price from the year's high above $115 per barrel to below $90 has.... Read more »
Posted on : Wednesday , 15th October 2014