Thursday, 25 October 2018

IEA tells ‘producer economies’ to diversify, hedge against price volatility

The rollercoaster in oil prices over the last decade has exposed the structural weaknesses in many of the major exporters The rollercoaster in oil prices over the last decade has exposed the structural weaknesses in many of the major exporters

The International Energy Agency (IEA) has called on Saudi Arabia, Russia, Iraq, the UEA, Nigeria and Venezuela to step up efforts to diversify their economies to be able to cope with volatility of shale gas supply, and uncertainties over the pace of demand growth. In its Outlook for Producer Economies, the IEA assesses how the world’s six resource-dependent economies might fare to 2040 under a variety of price and policy scenarios.

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