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IEA raises oil supply concerns

2014-05-19 01:05:00| Climate Ark Climate Change & Global Warming Newsfeed

BusinessGreen: The International Energy Agency (IEA) has warned that the world could face an oil supply crunch later this year unless the OPEC group of countries can significantly step up production in the coming months. The Paris-based agency last week issued a monthly report detailing how "OPEC countries would need to hike third-quarter production by another 900,000 b/d from April levels". The report confirmed that following a five-month low in March, April had seen a boost in OPEC oil production of 405,000...

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