Commenting on the global oil trade in 2020, Kiryushin expects there to be an oversupply. He said: "Many oil traders have predicted a bullish 2020 for the global oil industry, with some going as far as speculating the revival of a US$100/bbl price tag. However, recent market analysis demonstrates that this is unlikely to happen and the market will be in a position of oversupply. My view is that this will primarily be due to increased shale production and a slower than expected growth of the global economy. The International Energy Agency's (IEA) latest reports support the view that there will a global oversupply."