IEA predicts oil breaking $200 by 2035 as China keeps on trucking

Oil prices will rise beyond $200 a barrel as global supplies, strained by rising demand from China, India and other emerging economies, near their peak in 2035, the International Energy Agency (IEA) predicted yesterday.
Ahead of that, the Paris-based IEA's 2010 World Energy Outlook also forecast prices of more than $100 a barrel in 2015. "Production in total does not peak before 2035, though it comes close to doing so," the agency said.
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Source: The Independent