Oil can rise to $ 150 a barrel – Utro.Ru

Oil can rise to $ 150 a barrel – Utro.Ru

EU sanctions against Russia and the United States may hit the West itself: In the long term, this will lead to a disruption of oil supplies to the world market and spur the growth of prices in the coming years. This opinion was expressed by the former head of BP, Tony Hayward Group (led the company in 2007-2010.) In an interview with Financial Times.

According to experts, the world is lulled into a false sense of security, ingrained shale boom in the United States, due to which there is production increased by 60% since 2008. And while this factor can count on the fact that energy supplies from the United States compensate reduction of Russian imports. “But what happens when the American production will reach a peak, where will new supplies?” – Asks Hayward, who is now chairman of the board of directors of the world’s largest selling commodities Glencore.

The volume of the long-cultivated fields in the North Sea and Alaska gradually falls, the world relies on regions such as Canada, Iraq and Russia he explains. However, Iraq announced plans to double oil production by 2020, the biggest concerns against the backdrop of internal political problems of the Middle East. Islamist Sunni rebellion in northern Iraq coincided with the political instability in other major oil-producing countries such as Libya. And yet the development of unused fields in the Arctic and the vast reserves of shale gas in Siberia is under threat because of the sanctions. “Due to financial sanctions” big gorilla “will start to reduce their activity” – warns businessman.

In addition, sanctions threaten the activities of several joint ventures, such as a partnership, “Rosneft “and Exxon Mobil for oil in the Arctic seas.

Without shale support from the United States is already the world could be faced with the price of oil at $ 150 a barrel, said the former head of BP. Instead, the price of Brent crude oil fell from $ 108 at the beginning of the year to about $ 97 today (the minimum value from December 2012).

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