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IEA: Slashed spending by drillers could lead to price spike

2016-02-22 22:40:58| Energy - Topix.net

"' Oil prices will more than double by 2020 as current low prices lead drillers to cut investment in new production and gradually reduce the glut of crude, the head of a group of oil-importing countries said Monday. Oil prices shot to more than $100 a barrel in mid-2014 before a long slide sent them crashing below $30 last month.

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