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11/14/15
Paris
Energy Agency "pessimistic" about oil
The International Energy Agency on Friday, said that the world is witnessing an abundance of oil supply After you configure a standard stocks in recent months, although a slowdown in global demand and the flexibility of supply growth from outside the Organization of Petroleum Exporting Countries (OPEC) may increase the oversupply in the next year.
The agency said in its report Monthly "and the arrival of oil stocks to a record level of three billion barrels gives the global markets deal of satisfaction," adding that the abundance of the stock provides protection unprecedented geopolitical shocks and sudden disruption of supply.
The IEA said that global oil supply exceeded 97 million barrels per day in October \ November The first of more than two million barrels from a year earlier with the recovery of non-OPEC production from the low levels recorded in the previous month.
The agency expects that the decline in global oil demand growth to 1.21 million barrels per day in 2016 from the high level of 1.82 million barrels per day this year.
Abu Dhabi
gold falling to its lowest level
Gold prices fell to their lowest level in three months, influenced by the expectations of reducing the US central bank interest rates, next month, for the first time 10 years ago.
The decline in the price of gold in the spot market to $ 1083.45 an ounce, while arrived on time 1244 GMT to $ 1084.91 oz.
and dropped the price of gold futures American contracts, for December delivery, by 50 cents to $ 1084.40 an ounce.
The price of gold by about 5% since the beginning of November \ November, when he suggested the strong jobs data in the United States to raise US interest rates in the 2015, which is more than the cost of the acquisition of the precious yellow metal, which does not generate interest and support the dollar.
Dubai
Al Mazroui: UAE will contribute to the stability of oil prices
UAE Energy Minister, Suhail Al Mazroui said that his country will play a key role in the stability of the oil markets in the future and that it is committed to continue spending on energy projects, regardless of the price of oil. He said at the closing session of the Conference for oil and gas in Abu Dhabi, the United Arab Emirates government known for its commitment to the arrangements agreed supplies with its customers and fulfill its commitments.
Mazroui explained that his country has repeatedly said it is pushing ahead with all projects planned, despite falling oil prices.
The minister pointed out that the State of Emirates played a key role in the political stability in the region and will play a key role in the stability of the market.
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