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IEA forecasts oil rebound above 100 dollars


PARIS, Nov 06, 2008 (AFP) - The International Energy Agency said on Thursday that the price of oil would rebound above 100 dollars a barrel and eventually reach 200 dollars by 2030.

In a report on the global energy outlook, the agency said it expected the price to average 100 dollars a barrel from 2008 to 2015.

But it forecast that in 2030 the price would stand at just above 200 dollars a barrel which, after removal of projected inflation, was equivalent to more than 120 dollars a barrel in real dollar values.

The agency said the figures represented a major adjustment from its forecasts last year, owing to a review of the outlook for production costs and demand.