UBS has warned that the oil industry faces a looming oil crisis , as falling prices cause the pipelines of future projects to dry up ; the delay between exploration and production in the energy sector means this is " likely to hit the market around the end of the decade " . The ##uters added " there already looks to be a 300 m pipeline per day without ' hole ' appearing , which we expect will be difficult to offset " .
UBS has warned that the oil industry faces a looming supply crisis, as falling prices cause the pipelines of future projects to dry up; the delay between investment and production in the energy sector means this is "likely to hit the market around the end of the decade". The bank added "there already looks to be a 4m barrel per day production 'hole' appearing, which we believe will be difficult to offset".