PARIS: Cheap oil prices ushered in by Saudi Arabia’s policy of protecting its market share will end up squeezing high-cost producers like US shale drillers, leading next year to the biggest drop in output in nearly a quarter century, the IEA said on Friday.
Cheap fuel is also hooking consumers, with oil demand growth set to hit a five-year high this year, the International Energy Agency (IEA) said in its monthly report.
Already have an active account? Log in here.
Continue reading with one of these options:
Continue reading with one of these options:
Premium + Digital Edition
Ad-free access
P 80 per month
(billed annually at P 960)
- Unlimited ad-free access to website articles
- Limited offer: Subscribe today and get digital edition access for free (accessible with up to 3 devices)
TRY FREE FOR 14 DAYS
See details
See details
If you have an active account, log in
here
.