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Where will the new oil be found to meet demand?

The data will determine whether an oversupplied market will continue to depress oil prices into the future.

According to Canadian economist Jeff Rubin, the new oil will match the same level of consumption in 2015 as five years earlier in 2010. In other words, new oil supplies can't keep up with demand.

IN 2008, Canadian economist Jeff Rubin stunned the oil market with a bold prediction: With the world economy growing at 5 per cent a year, oil demand would grow with it, outpacing supply, thus lifting the oil price from US$147 to over US$200 a barrel.

The former chief economist at CIBC...

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