iea high oil prices threaten global economic recovery
Last Updated : GMT 04:12:41
Arab Today, arab today
Arab Today, arab today

IEA :High oil prices threaten global economic recovery

Arab Today, arab today

Arab Today, arab today IEA :High oil prices threaten global economic recovery

Singapore - Xinhua

High oil prices are threatening the global economic recovery, the International Energy Agency (IEA) Chief Economist Fatih Birol said on Wednesday. The high oil prices \"will have a negative impact on the global economic recovery\", Birol said in a speech in Singapore. The IEA has said that the global demand for crude is expected to increase by 1.3 million barrels per day to 90.3 million barrels per day in 2012, even after a downward revision by 200,000 barrels a day. Almost half the growth in demand will be contributed by China, the world\'s largest emerging economy and the world hub of manufacturing activities. The agency said it expected the international oil prices to rise to 120 U.S. dollars per barrel in 2035. The Middle East and North Africa is going to supply over 90 percent of the oil demand growth between 2011 and 2015, with the investment required amounting to 100 billion U.S. dollars per year. However, the crude prices could rise to 150 U.S. dollars per barrel by 2015 if the investment in the Middle East and North Africa runs one-third lower than the 100 billion dollars needed, Birol said. Birol said the oil producing capacity is now at half the level before the war in Libya, one of the key oil producers. He suggested that the oil producing countries should boost their output to meet the growing demand amid falling inventories in wealthy countries. The Organization of Petroleum Exporting Countries is meeting in Vienna to decide whether to change the cartel\'s output quotas. Birol, who arrived in Singapore from the climate talks in Durban, said the door to capping the climate change at 2 degrees Celsius could be closing on the world if governments failed to act timely. As for the alternative energy sources, Birol said the demand for coal is growing rapidly but its future would depend on man kind\'s ability to use it more efficiently. Wind is also growing quickly, with China expected to install an additional capacity equal to what the world has today in the coming 20 years, thereby helping bring down the cost of wind turbines.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

iea high oil prices threaten global economic recovery iea high oil prices threaten global economic recovery

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

iea high oil prices threaten global economic recovery iea high oil prices threaten global economic recovery

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Airbnb raided by Japan

GMT 01:55 2017 Saturday ,18 November

Airbnb raided by Japan
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Ayten Amer happy for “The Flood” success

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:21 2017 Tuesday ,14 November

Nelly Karim focuses on humanitarian roles

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday