Gas Prices to Remain High, IEA Chief Projects

Gas prices are expected to continue to rise, if Europe experience a severe cold winter, withou increase in the volume of gas imports, and continuity of the said supply disruption.

The Executive Director of the International Energy Agency (IEA) Fatih Birol commented.

 During an event in Istanbul, he added that “we do not witness a severe winter, in Europe, and Russia is furthermore increasing its exports, subsequently, we will witness a relative decrease, in prices, CNBC quoted Birol as saying.

But it is likely that prices will remain high, if the volume of gas flowing to Europe do not increase and the winter was harsh.

On the other hand, oil prices are falling for the third week, in a row.