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The International Energy Agency (IEA) has maintained its forecast for global oil demand in 2015 at 93.4 million barrels per day, according to the medium-term forecast released today IEA.
Oil prices should continue in the coming years, slow growth, reaching the 2020 level of $ 73 per barrel. According to the latest assessment of the IEA, achieving the oil price floor will happen by the middle of 2015, then in 2016 the price will go up again.
However, the report notes that, despite the resumption of growth, commodity prices will not return to its previous high levels in the foreseeable future. First of all, in the IEA attribute this to the decline in world oil demand on weak growth dynamics of the world economy.
The most serious decline in oil production is expected in Russia, where the forecast production agency 2020 will decrease by 560 thousand. barrels per day to 10.4 million barrels. “Russia is facing a” perfect storm “in which coincided collapse in prices, international sanctions and the depreciation of the currency”, – stated the IEA experts.
For more information about the situation in the oil market read the material “b”, “OPEC oil added optimism».
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