In the last week, the three official forecasters of the supply and demand for oil, the IEA in Paris, the EIA in Washington, and the OPEC Secretariat in Vienna, released new forecasts of what they believe will happen to global oil prices and the availability during the next two years. As everybody should know by now, this may be a critical time for global oil production which is hardly growing at all; and consumption in some parts of the world has been increasing rapidly.
