IEA Warns of Possible Global Oil Supply Gap, an Industrial Info Market Brief

According to the International Energy Agency's (IEA) World Energy Outlook 2018, oil markets are entering a period of renewed uncertainty and volatility, including a possible supply gap in the early 2020s. The report shows growing oil consumption in coming decades due to rising demand for petrochemicals, trucking and aviation, but meeting this growth in the near term would require the approval of conventional oil projects to double from their current levels.