Analyst warn of world oil shortages and price hikes due to rising demands.
World oil shortages - expert warns[Business Africa]
As oil-producing countries have been urged to respect the global agreement on reducing the production of black gold, many experts are warning against an increase in the price per barrel. A production shortfall in the foreseeable future could therefore benefit the producing countries, but could also cause an oil shortage throughout the world.
And then Africa’s hydrocarbon industry is expected to boom within the next 5 years, according to the 2020 report of the African Energy Chamber. Watch video and follow the conversation.