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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    International Energy: 2018 year restore balance in the oil market

    Rocky
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    • Post n°1

    International Energy: 2018 year restore balance in the oil market Empty International Energy: 2018 year restore balance in the oil market

    Post by Rocky Sun Jan 07, 2018 5:17 am

    International Energy: 2018 year restore balance in the oil market
    The Middle East region holds the largest share of total subsidies and subsidies for traditional energy resources, "oil and gas", which accounts for about 30 per cent of the global total of subsidies, stressing that the new year 2018 is undoubtedly a year to restore balance in The oil market.
    "The estimated value of these subsidies has fallen sharply from about $ 120 billion in 2015 to $ 80 billion in 2016," the agency said in a report. "Access to fair energy prices is critical to sound economic policy making because of government support. Energy prices, consumers - in many countries - often pay much less than the real market value of energy. "
    "The price of energy would be realistic and fair and reflect the full environmental and social cost of energy," the report said, noting that the decline in the global support for fossil fuel consumption by 15 percent to 260 billion dollars in 2016 is the lowest level since the International Energy Agency These subsidies are tracked in the global energy outlook ten years ago.
    The new Global Report for 2017 showed that the largest share of global subsidies to fossil fuel consumers was aimed at making electricity prices realistically low and 41 per cent of the global total of oil subsidies was directed at 40 per cent of natural gas.
    "Such subsidies are a barrier to a cleaner and more efficient future," the report said, noting that this is why the IEA remains a strong supporter of international efforts to boost energy subsidies.
    The international report said the global economy is undergoing a smooth recovery, which is also optimistic about the future of the energy market. Demand for oil is growing more than previously expected, so the market is on track to rebalance. OPEC producers are confident that This will happen soon according to the strategic road map developed by producers through the "Declaration of Cooperation" signed by 24 oil producers in OPEC and abroad.
    The report said that the "declaration of cooperation" between producers in and outside OPEC was vital to ensure the health and recovery of the market, both in the medium and long term, noting that the announcement will lead to the growth of prices to levels of sustainable prosperity in the market.
    Without a "declaration of cooperation" between 24 producing countries, the oil market and the global economy would be in a radically different situation, noting that the negative situation in the market in 2015 and 2016 is still alive in the memory of all those involved in the market, The period of severe uncertainty and competition leading to large price fluctuations as well as sharp drops in the level of oil investments, at a time when the need to strengthen the oil industry is much needed.
    "Producers experienced difficult periods when crude oil prices fell below $ 30 a barrel and continued for a considerable period," said the report. "The impact was severe and had a significant impact on governments and economies in most of the production countries."
    The report stressed that the new year 2018 is undoubtedly a year to restore balance in the oil market, pointing out that it is a matter of full confidence - according to the assertions of the Kuwaiti oil minister - pointing out that it could be considered a matter of time and what the crude market needs in this The delicate stage is to adhere to more patience and perseverance and to strengthen and strengthen the actions taken by producing countries participating in the Declaration of Cooperation.
    The report said that "OPEC" currently has a healthier view of the level of demand for crude oil in 2018, pointing out that this vision is supported by the expectations of economic growth is continuing to rise as the process of discipline in restricting the level of crude oil production, considering that there is now a case Of the broad confidence that we will see a greater balance in the oil market this year.


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