Oil will be depleted sooner than the IEA expects
Amsterdam – The world’s oil production will reach a peak between 2012 and 2017. After 2017, production will slowly start to decline. In the
coming years an annual production growth of no more than 1.5% is feasible, while demand is expected to grow on average 2.1% annually. Because of this, the oil price will stay on persistently high levels.
November 15, 2005