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US govt predicts world oil price to rise sharply by 2025
www.chinaview.cn 2004-04-14 23:57:36

    WASHINGTON, April 14 (Xinhuanet) -- Crude oil prices will increasesharply and reach about 51 dollars a barrel by 2025 due to rising energy needs in the world especially in developing nations, US Energy Department said on Wednesday.

    The report by the department's Energy Information Administration (EIA) projected that global energy demand to grow about 54 percent by 2025. But demands in China, India and other developing countries will increase by a sharp 91 percent as these countries continue rapid industrial development.

    The report said that strong economic growth in Asia will drive world energy prices in the next decade.

    The Organization of Petroleum Exporting Countries (OPEC), whichaccounts for about a third of the world oil output at present, is expected to remain the major oil suppliers in 2025.

    The oil prices in the world market are rising quickly this yearwith the price in the United States hit a 13-year high of more than 38 dollars a barrel in mid-March. Enditem

    

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