Novak Warns of Oil Shortages, IEA Backs Him

Russias Alexander Novak warns of potential oil shortages due to slow investment in new supplies, highlighting the risk of demand outpacing supply and causing market instability. The International Energy Agency shares similar concerns, noting that oil depletion rates are accelerating and most investment is focused on replacing lost supply rather than meeting new demand.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.