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International Business Times
International Business Times
World

IEA Says More Oil And Gas Investment May Be Needed

The IEA's prominent forecast that oil demand will soon start declining and that no new projects should be developed had drawn the ire of the fossil fuel industry and its supporters (Credit: AFP)

New oil and gas projects may be necessary to maintain current production levels, the IEA said Tuesday, as it is in a public feud with the Trump administration over its forecasts for lower demand.

The International Energy Agency said in a report that its analysis of 15,000 oil and gas fields showed that output was declining more rapidly than in the past, which has "implications for markets and energy security".

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