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The International Energy expects oil to restore balance by 2020
Wednesday, 11/11/2015 0:12
/ Follow-up / Baghdad news
International Energy Agency is expected to regain the oil market balance gradually and settle on the price of nearly $ 80 a barrel by 2020 under the influence of width less abundant. it reported the agency in considering the annual Expeditionary that "the adaptation of the oil market, the process is rarely what you get is a quiet, but According to the President, which we prepared scenario, the market will regain its equilibrium level of $ 80 a barrel in 2020, while continuing price rise after that. "Oil prices have fallen by more than half since the mid-2014 currently remains below $ 50 per barrel threshold, influenced especially commercial assault ... pursued by the Organization of Petroleum Exporting Countries for OPEC oil at the top of Saudi Arabia as deliberately to flood the market to address the development of rock hydrocarbons in the United States. However, the price deterioration that carries restore balance to the market the seeds as encourage demand and reduce production in the future as a result of reduced oil companies from spending in the areas of exploration and production. As a result, The production of non-members of OPEC will reach a maximum unit before 2020, recording just over 55 million barrels more than a day while "OPEC" production will rebound thanks to Iran and Iraq. The demand Vsyazdad at a rate of 900 thousand barrels per day a year until the year 2020 and up to the 103.5 million barrels per day after 20 years, compared with 92.7 million barrels per day in 2014 does not rule out the agency altogether scenario continued decline in prices for a long time where the remaining level at around $ 50 a barrel until 2020, before returning gradually rise up to $ 85 a barrel 2040.
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