Economist: The era of cheap oil is over, oil prices will be higher in the future

According to Voice of China’s “Yangguang News” report, the chief economist of the International Energy Agency said: From the perspective of supply, the era of cheap oil has already ended, and international oil prices will be higher in the future.

As many traditional oil fields have dried up, producers have begun to search for more difficult oil resources. At present, the fuels of the world's transport systems rely mainly on oil and there is no alternative fuel, which will also lead to an increase in oil prices.

In the long term, although the share of fossil fuels in the entire energy mix may decline, the absolute amount of energy from fossil fuels will continue to increase due to the significant growth in overall energy demand.