British Petroleum (BP) chief economist Spencer Dale on Tuesday (June 13) in London, said on a one-day basis, the supply and demand of crude oil market by the end of 2016 has reached a balance, consumption growth faster than the supply is expected in the second half of 2017 Crude oil inventories will accelerate decline. Gamma-PGA (gamma polyglutamic acid)
5 months OPEC and non-OPEC oil producers in Russia have announced that the cut-off agreement extended to March 2018 has been extended to March 2018. Saudi Energy Minister Khalid Al-Falih also pointed out that the stock will be a global decline, and in the next 3-4 months to accelerate the decline in the end of 2017 by the end of the year to reach the five-year historical average of OPEC goal.
Although the OPEC monthly report showed May output rebounded, but the dollar weakened and the market expected US crude oil inventories will be recorded last week, is still to provide effective support for oil prices.Bacillus thuringiensis
“The current crude oil price is unsustainable because the largest producer of crude oil still has a large fiscal deficit,” Dale said. “OPEC can respond to a temporary impact on the market rather than a structural shock.”
He also stressed that the US shale oil production has been tough, any attempt to completely suppress the US shale oil initiatives “are meaningless.” Due to the United States shale and OPEC crude oil supply tough, is expected in the next three years will not be a shortage of supply situation.
BP expects the future of crude oil, natural gas will be sufficient supply. The next 20 years, crude oil demand growth will slow down, but before that, demand is unlikely to peak. http://www.lubonchem.com/