OIL, IEA Paris predicts new world energy order 2030

The International Energy Agency is studying depletion rates at about 400 oil fields in a first-of-its-kind study of world oil supply, chief economist Fatih Birol said.

"We are entering a new world energy order, " Birol told The Associated Press.

Market analysts call the Paris-based IEA the world's most reliable independent source of oil information and welcomed its decision to undertake a deep study of oil supplies.

But the IEA's new forecasts are likely to further upset markets. Oil prices hit an all-time high Thursday above $135 a barrel before falling back.