Cnooc Ltd.’s takeover bid for Canadian oil producer Nexen Inc. signals a “wise and justified” focus on energy security by China, the International Energy Agency’s chief economist said.
U.S. fuel imports will decline through 2035 and the nation will be “less vulnerable to oil price shocks” in the future, the International Energy Agency’s Chief Economist Fatih Birol said.
A boom in liquefied natural gas exports and growing demand in Asia may pave the way for a trading hub in Singapore and a benchmark price for the fuel, according to the International Energy Agency.
"We will see downward pressure on the prices in the next few years, but what worries me is that investment is not coming forth, especially in the Middle East."
- Fatih Birol on Dec 11, 2014