IEA said growth in oil prices to $80 per barrel by 2020

Moscow. November 27. Oil prices are unlikely to hold at around $50 per barrel in the next decade, said the Executive Director of the International energy Agency (IEA) Fatih Birol.

According to him, oil would go to $80 per barrel by 2020.

As writes Agency Bloomberg, the head of the IEA said that high rates of production in the United States and Iraq are the excess supply in the market, however, the amount Iraq produced fuel is expected to drop in 2015.

Birol also expressed the view that new projects for the production of liquefied natural gas (LNG) will put pressure on world prices for this type of fuel.