The Emerging Petroleum and Natural Gas Economy
INTERNATIONAL ENERGY AGENCY PARIS (FRANCE)
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There is cause for concern with regard to the future of both the oil and gas markets. On the oil side, although space capacity is comfortable now, the rapid growth in demand for transportation fuels, is putting us on a path where we need ever more production from ever fewer countries. Investment remains problematic. On the gas side, a combination of weak demand and surprising advances in non-conventional production have produced a glut that could undermine investment in supply and change the structure of the market. However, demand could bound back quickly and produce a tight market again in a few years.