We expect severe price spikes over the next two years following years of underinvestment by the industry, unexpected demand shocks from China and other emerging economies, supply disruptions to existing mines and a lack of response in bringing on new supply.
Jeremy Gray
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The forecast annual growth rate over the next 10 years of just over 1 percent reflects the chronic underinvestment that plagues the Russian oil sector because of persistent regulatory uncertainties and growing state interference.
Valery Nesterov
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