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The oil market is expected to become more balanced in 2016
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- Time of issue:2020-03-31 14:57
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The oil market is expected to become more balanced in 2016
- Categories:Industry News
- Author:
- Origin:
- Time of issue:2020-03-31 14:57
- Views:
Information
Al-Badri (OPEC), the Secretary General of the oil exporting countries (Abdullah) said on Monday (November 9th), is expected to continue to grow as the demand for oil market in 2016 will become more balanced.
Badri in the OPEC page, published a speech, said: "the oil market in 2016 will become more balanced, and global oil demand will maintain its recent healthy growth; and the non OPEC supply is expected to decrease, and the market demand for OPEC crude oil increased."
Badri also said that in recent years, the oil supply increased by the majority of high cost producers, the market is gradually being revised, the oil industry will survive the current oil cycle, but the oil market will face some challenges, such as the global economic prospects and supply.
Pakistan is expected to increase by about 1700000 barrels / day, and about 70% of the increase will come from Asia, and the current investment demand will reach about $10 in 2040 to 2040.
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