Dec 26, 2012

Oil will decline shortly after 2015, says former IEA oil expert

Olivier Rech developed petroleum scenarios for the International Energy Agency over a three year period, up until 2009. This French economist now advises large investment funds on behalf of La Fran├žaise AM, a Parisian assets management firm. His forecasts for future petroleum production are now much more pessimistic than those published by the IEA. He expects stronger tensions as of 2013, and an inevitable overall decline of oil production "somewhere between 2015 and 2020", in the following interview.

Olivier Rech, responsible for petroleum issues at the International Energy Agency from 2006 to 2009.

Rech's outlook serves as another significant contribution to the expanding list of leading sources portraying the threat of an imminent decline in global extraction of crude oil