BBC NEWS | Business | Oil 'could hit $200 within years' - 0 views
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A serious oil supply crisis is looming, which could push prices above $200 a barrel, a think tank has warned. A "supply crunch" will affect the world market within the next five to 10 years, the Chatham House report said. While there is plenty of oil in the ground, companies and governments were failing to invest enough to ensure production, it added. Only a collapse in demand can stave off the looming crisis, report author Professor Paul Stevens said.