Home
Dumping oil markets with 500 million barrels in 2015
2015/10/15
{International: Euphrates News} data showing the oil sector gathered important institutions issued forecasts for the energy market, the top oil exporters in the world pumped more than half a billion barrels over required in the first nine months of this year.
According to estimates that "the Organization of the Petroleum Exporting Countries} {OPEC pumped an average of 31.2 million barrels of oil per day between January and September / September, more than more than two million barrels per day above demand for the supply of the size of the organization."
And it increases the total on 550 million barrels of crude, all need to be in storage somewhere.
The main countries in OPEC, such as Saudi Arabia decided a year ago to focus on building market share, rather than the defense of oil prices, resulting in a huge glut in supply pushed the market to its lowest level in six years.
And oil stocks have grown around the world this year to reach commercial fuel stocks in the advanced industrial economies a record high of 2.94 billion barrels in August / August, according to the International Energy Agency.
Data from the Energy Agency, OPEC and the US government show that the global supply glut of crude oil produced by OPEC stood at 2.64 million barrels per day in the second quarter of the year.
The decline in the surplus to about 1.69 million barrels per day in the third quarter, but does not seem to fade, and indicate large oil market outlook estimates institutions to increase stocks in 2016.
The International Energy Agency, based in Paris that "the expected slowdown in demand in the next Iranian year, additional supplies expected growth in the case of easing international sanctions will remain oversupply in the market is likely in 2016". Ended tc
[You must be registered and logged in to see this link.]
2015/10/15
{International: Euphrates News} data showing the oil sector gathered important institutions issued forecasts for the energy market, the top oil exporters in the world pumped more than half a billion barrels over required in the first nine months of this year.
According to estimates that "the Organization of the Petroleum Exporting Countries} {OPEC pumped an average of 31.2 million barrels of oil per day between January and September / September, more than more than two million barrels per day above demand for the supply of the size of the organization."
And it increases the total on 550 million barrels of crude, all need to be in storage somewhere.
The main countries in OPEC, such as Saudi Arabia decided a year ago to focus on building market share, rather than the defense of oil prices, resulting in a huge glut in supply pushed the market to its lowest level in six years.
And oil stocks have grown around the world this year to reach commercial fuel stocks in the advanced industrial economies a record high of 2.94 billion barrels in August / August, according to the International Energy Agency.
Data from the Energy Agency, OPEC and the US government show that the global supply glut of crude oil produced by OPEC stood at 2.64 million barrels per day in the second quarter of the year.
The decline in the surplus to about 1.69 million barrels per day in the third quarter, but does not seem to fade, and indicate large oil market outlook estimates institutions to increase stocks in 2016.
The International Energy Agency, based in Paris that "the expected slowdown in demand in the next Iranian year, additional supplies expected growth in the case of easing international sanctions will remain oversupply in the market is likely in 2016". Ended tc
[You must be registered and logged in to see this link.]
