IEA: "Clear and Urgent" need for more OPEC crude oil production

The International Energy Agency yesterday stated that "there is a clear, urgent need for additional [crude oil] supplies to prevent a further tightening of the market."

This is a shocking admission from an agency that just cut global oil demand estimates last week, causing a brief 'flash crash' in oil futures.

Global demand for oil increases seasonally from May to August, and production of high quality Libyan oil remains offline.

The crude oil supply/demand is discussed today - and why we are headed for much higher crude oil prices - in a 15 minute interview with Jim Puplava:


This can only be good news for crude oil, natural gas, and coal, companies and mineral owners.

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