EIA Administrator Sieminski Sees Higher Oil Prices AheadNovember 16, 2016
The U.S. Energy Information Administration (EIA) is a division of the Department of Energy tasked with collecting and analyzing data regarding energy markets and supply levels. In a recent interview with EIA head Adam Sieminski, Bloomberg Businessweek got some revealing opinions from a man with his fingers on the pulse of the markets. Most notable for those with an interest in oil prices, Sieminski declared that he sees a return to $50/barrell prices as imminent, with prices heading toward $60/barrell a real possibility. He points to the lack of investment over the last several years as a factor that could lead to constrained supply and therefore higher prices in the coming years.