Oil Supply Forecast

An international group representing oil-importing countries warns the global supply of oil could fall short of demand after 2020 and push prices higher.
The International Energy Agency says the supply looks adequate for the next three years thanks to rising production in the US and a few other nations.
But the group says supply growth will slow after 2020, with a drop in spare production capacity expected unless new projects are approved soon.
Investment in new projects fell during a slump in oil prices that began in mid-2014.
The energy agency says production is rising in Canada and Brazil, but that is the result of drilling projects that were started before prices collapsed.
The Associated Press

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