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International Energy Surprises the world in oil production

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world - International Energy Surprises the world in oil production Empty International Energy Surprises the world in oil production

Post by rocky on Fri 12 Jul 2019, 6:11 am

world - International Energy Surprises the world in oil production 5d09e97894575
International Energy Surprises the world in oil production


The International Energy Agency (IEA) said on Friday that the rise in US oil production would outweigh global demand and lead to a large accumulation of stocks around the world in the next nine months.
The outlook seems to signal the need for OPEC and its allies to cut production to achieve a balance in the market despite their existing agreement being extended, with demand for OPEC oil expected to drop to only 28 million bpd in early 2020.
"The lack of supply in the market is not the problem at the moment and it seems that any rebalancing has been postponed to the future," the IEA said in its monthly report.
"This is clearly a great challenge for those who are managing the market," she said, referring to the Organization of Petroleum Exporting Countries (OPEC) and allied producers such as 


https://glgamesh.com/archives/86512

    Current date/time is Fri 23 Aug 2019, 11:55 pm