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Era of 'cheap oil' may be over, says report
- Middle East: Thursday, October 08 - 2009 at 09:47
A new report has warned that the era of 'cheap oil' is over, as there is a 'significant risk' that global production of conventional oil could 'peak' and decline by 2020. The UK Energy Research Council study say most governments are showing little concern about oil depletion, even though the 10 largest oil producing fields in the world are all in decline.
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StaffThursday, October 08 - 2009 at 09:47 UAE local time (GMT+4)
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