The industry taskforce on Peak Oil and Energy Security cut its projections for spare capacity between what is being extracted and what is being used from three million barrels a day to just two million in 2015.
- Text size
Impact of Mexico spill prompting ‘oil crunch’ fears
The knock-on impact from the Gulf of Mexico disaster could be enough to tip oil production below international energy demands and spark an “oil crunch”, a cross-industry group has warned.
