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28 April 2010, Calgary Herald

In an interview on the sidelines of a United Nations conference on energy and climate change, Fatih Birol, the IEA Chief Economist, said “If the price of oil stays at $80-$85 a barrel for the full year, in 2010 it will be equal to 4.5% of gross domestic product of these lesser developed countries”. Birol added that prolonged high oil prices will also hurt producer countries in the long run, by encouraging efficiencies and allowing costly alternative energy sources to be developed: “Very high prices are not good news for producers. They send strong signals to look for alternatives”

28 April 2010, Dow Jones Newswire

Fatih Birol, the IEA chief economist, speaking at International Energy and Environment Fair and Conference in Istanbul said four main issues would affect the future of the world energy market: high oil prices, abundance of natural gas in the world market, return of nuclear energy and climate change. Commenting Turkey’s energy policy, Birol added: “Turkey can review its contracts with exporter countries. The current contracts between Turkey and natural gas exporter countries should be updated”

23 April 2012,

For global energy markets, that is a change of potentially huge proportions. “This is going to have big implications for traditional exporters of gas,” says Fatih Birol, chief economist at the International Energy Agency, the west’s industry monitor. “All of them are worried. They have a competitor entering the market that produces gas at much lower cost.”

30 March 2010, The Wall Street Journal

On the occasion of a UN major event, Fatih Birol, the IEA Chief economist said “If the oil prices stay at this level of $85 a barrel and above will be a major risk for strangling the economic recovery efforts, which are very very fragile anyway”. He added that “If as a result of economic recovery, demand continues to grow and if the investment regime is as it is today in four or five years time, we may well see prices which are higher than now”.

19 March 2010, ArgusMedia

Speaking about the oil prices, Fatih Birol, the IEA Chief Economist, warned that the expected rate of investment this year is still about 10% to 15% below what was seen annually earlier this decade. The International Energy Agency estimates that oil-drilling investment globally is currently expected to come in at about $330 billion this year, a rise of about 7% from 2009 when investment collapsed almost 20%.

9 March 2010, Dow Jones Newswire

Speaking about the gas glut, Fatih Birol, the IEA Chief Economist said: “The only way to get rid of the glut is a strong economic recovery, otherwise it will be with us to 2014-15 or even longer. The “silent revolution” of shale gas production in the US may be repeated in Europe which could further extend the glut. If the success continues in Europe, shale gas growth may be similar to the emergence of nuclear power in the 1970s. It has major implications for competing fuels.”

16 February 2010, The Wall Street Journal

Speaking at the National Association for Business Economics (NABE), Fatih Birol the chief economist of the International Energy Agency said that the "era of cheap energy is over," with oil supply unlikely to keep up with demand. Birol added that China will be the main driver of global oil demand, with about 1.5 million barrels a day increase for this year.

4 February 2010, Business Week

Interviewed by the Wall Street Journal about last Decembers United Nations Copenhagen summit, Fatih Birol, the IEA Chief Economist said: “Unfortunately, the wind is not necessarily blowing in the right direction”. He added that “the pledges made so far mean 550 parts per million and result in a three-degree increase in temperature. Thats much higher than many countries would like to see”.

28 January 2010, Reuters

Fatih Birol, chief economist at the International Energy Agency, predicted that the world will see a gas glut in the next four to five years, which he said would have huge implications for gas exporters such as Gazprom.

28 January 2010, AP Featured News

Speaking at the Troika Dialogue in Moscow, Fatih Birol, the IEA Chief Economist said: “I don’t have very good news for Russia. The supply glut will stay until 2015 and may reach as much as 200 billion cubic meters by that year”. Gazprom, is “moderately optimistic” on the outlook for European gas demand as it expects its share of the European gas market to reach 32 percent by 2020 as the Russian gas-export monopoly rejects concerns over a looming supply glut.