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Energy Commission ruled drop in global oil prices
11/18/2012 12:00 am
BAGHDAD - morning
ruled Vice Chairman of the Oil and Energy Committee National Alliance MP Ali Fayad, falling oil prices in global markets at the resort the United States to increase its oil production, as a result of the growing demand for oil and energy globally. said Fayad: The economies of the world will depend on the production and export U.S. oil because the world is witnessing development in all areas and this development requires consumption of oil and energy in large quantities, especially Asian countries and the Middle East that rely heavily on Iraqi oil and the Gulf. added: expectations which refers to increase the United States its production capacity of oil will not affect the global prices crude oil because demand is increasing day by industrialized countries to buy oils. predicted Fayad: that Iraq would be a leader in the field of oil and has an active role and great responsibility to meet the global need of petroleum products and power and which have transfers industrial countries oil-consuming, so it is what you are by the United States to increase its production capacity and export of oil does not affect mainly the situation of oil and economic in the world. confirmed the International Energy Agency that the United States will increase its production capacity of crude oil, predicting that surpass Saudi Arabia in terms of production during the year (2020).
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