Financial Times FT.com

Oil price to bounce back with recovery, IEA warns

By Javier Blas and Carola Hoyos

Published: November 6 2008 02:00 | Last updated: November 6 2008 02:00

Oil prices will rebound to more than $100 a barrel as soon as the world economy recovers, and will exceed $200 by 2030, the International Energy Agency will say in its flagship report to be published next week.

"While market imbalances could temporarily cause prices to fall back, it is becoming increasingly apparent that the era of cheap oil is over," the report states.

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