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Oil price at $45 is temporary phenomenon — IEA chief economist

January 21, 2015, 21:24 UTC+3 DAVOS
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DAVOS, January 21. /TASS/. The price $45 a barrel is a temporary phenomenon, the chief economist of the International Energy Agency (IEA) Fatih Birol said on a panel at the World Economic Forum in Davos, Switzerland, on Wednesday.

“The second half of 2015 will witness a surge in crude oil prices, and thus I think that the $45 a barrel oil is a temporary phenomenon,” he said. Birol also added that oil investments are going to fall by 15% or about $100 billion this year.

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