The numbers are staggering. The investment needed to balance global demand and supply to 2035 is $37 trillion with the Middle East and North Africa needing to invest $3.7 trillion, or around $160bn a year, during that time frame. But many projects will fall by the wayside should cost inflation and lower oil prices collide.

While it is rare for analysts, bankers and oil executives from consuming and producing nations to agree, there appears to be a consensus that a sustained fall in oil prices below $80/B could potentially lead to future supply shortages despite the shale oil and gas avalanche. (CONTINUED - 1365 WORDS)