Their price forecasts basically assumed that the price will stay stable, close to where it was at the time the forecast was made. During the recent crisis, they assumed the price would return to pre-crisis levels and then remain there. The link goes to a German site, but the picture speaks for itself (the actual oil price is the black line).



It seems the IEA has a more political agenda (promoting stability) than being in the business of producing accurate forecasts.

06 Feb 2013 - 2:57
# lastedited 17 Mar 2013
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