Print The Organization of Petroleum Exporting Countries (OPEC) expects the world oil market will move to the balance in the second half of 2016 oil production outside OPEC will decline this year, according to a monthly review of the cartel.
According to OPEC, the excess supply in the oil market will decline in the coming quarters. This trend is already seen to slow down the formation of fuel reserves in the United States, according to a survey.
OPEC expects that production will decline to 740 thousand. B / d compared to 2015 and reached 56.4 million b / g to the end of 2016..
oil production in the 13 countries belonging to OPEC, in May decreased by 100 thousand. b / d to 32.36 million b / d due to reduced supplies from Nigeria , Venezuela and Iraq.
according to the OPEC forecasts, world oil demand in the second half will continue to rise by 1.2 million b / d, and will be the average for the year 94,180,000 b / d. The primary demand for oil will grow at the expense of India.
Links
Oil Demand OPEC in the second half of the year will amount to 32.6 million b / d (forecast for the year – 31.5 million b / d, 1.8 million b / d higher than last year).
No comments:
Post a Comment