The International Energy Agency: oil market tensions will reduce in the upcoming years but will not fade

World oil market tensions will be reduced in the upcoming years but only to intensify afterwads, International Energy Agency director Nobuo Tanaka declared for the German Der Spiegel quoted by NewsIn.

The oil price decreased on Friday by 5 dollars, based on fears that demand will fall due to the decrease of the economic growth rythm. The American stock exchanged sold the oil below 115 dollars while in London the price registered 113 dollars.

In June, oil prices grew at the record sum of 147 dollars. To avoid future oil crisis, producing states need to increase their production capabilities, Tanaka declared.