IEA forecasts oil rebound above $100

The International Energy Agency said today that the price of oil would rebound above $100 a barrel and eventually reach $ 200 by 2030.     

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

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