International energy does not expect a significant increase in oil prices[/rtl]
[rtl]Date of release:: 2019/7/19 10:26 • 53 times read[/rtl]
The International Energy Agency (IEA) chief executive Fatih Birol said on Friday that the agency did not expect a surge in oil prices due to a slowdown in demand and that there was a glut in global crude markets.
"Prices are determined by the markets ... If we look at the market today, we see demand slowing significantly," Berrol said in a public comment at a two-day energy conference in New Delhi.
Last year, the IEA predicted global demand for oil in 2019 would grow by 1.5 million bpd, but reduced its growth forecast to 1.2 million bpd in June.
"Large quantities of oil come from the United States, about 1.8 million barrels a day, as well as oil from Iraq, Brazil and Libya."
"Under normal conditions, he does not expect a significant increase in crude oil prices," he warned, warning that serious political tensions could affect market mechanisms.
Oil prices rose about 2 percent on Friday after a US Navy ship destroyed an Iranian rally in the Strait of Hormuz