Middle East Economic Survey


No 32



IEAs Birol Warns Of Energy Shortage Prompted By Peak Oil Production

In an interview with the UKs Independent newspaper, published on 3 August, Fatih Birol, Chief Economist at the Paris-based International Energy Agency (IEA), warned that a serious energy supply crisis could arise over the next decade as crude oil production reaches a peak. Dr Birol told the daily that supply shortages brought on by a rapid increase in demand and...