Some investors reacted to a report on Thursday in The Wall Street Journal that the International Energy Agency, an Paris-based policy advisory group for industrialized countries, was concerned about a reduction in the long-term world supply of crude oil.

But the agency’s chief economist said in an interview that the study’s results were still inconclusive. “We are going to revise our oil supply prospects,” said Fatih Birol, the economist. “We don’t know the results yet.”

And several oil analysts dismissed the importance of the current anxieties affecting the market.

“Concerns about future supply  that’s nothing new, it’s been there for four years,” said Antoine Halff, an analyst at Newedge.

Some experts expressed frustration that investors were only focusing on alarmist reports about declining supplies in a few areas and failed to consider that higher prices would eventually tamper demand and attract new production from places like Brazil.

“The market is reacting to the fact that we might not have enough oil in the market 13 years from now  excuse me?” said Edward Morse, the chief energy economist at Lehman Brothers in New York. “You never recognize it’s a bubble until the bubble is over.”

The International Energy Agency warned about such a disconnect three years ago. At the time, it said that if investments didn’t keep pace with the growth in consumption, the world might face a shortfall of as much as 15 million barrels a day by 2030. Instead of growing to reach 116 million barrels a day, global supplies would struggle to increase to 100 million barrels a day by then, up from today’s average of 86 million barrels day.

In recent years, a chorus of analysts and oil executives have raised concerns about possible shortfalls in supplies over the next years as new discoveries and production fail to keep up with rising demand. That, they warned, could lead to a supply crunch and spiking oil prices until demand eventually fell.