Arab Today, arab today no dip in oil demand next year
Last Updated : GMT 12:43:40
Arab Today, arab today
Arab Today, arab today

No dip in oil demand next year

Arab Today, arab today

Arab Today, arab today No dip in oil demand next year

Paris - AFP

OPEC will need to maintain or increase its oil production to meet global demand next year, despite concerns about the state of the world economy, the International Energy Agency said Wednesday. \"There is an ample market for OPEC production at or above current levels\" of 30.1 million barrels per day, said David Fyfe, director of the IEA\'s market and oil divisions. \"We dont think there is a market (in which) producers should be looking to scale back supply,\" Fyfe told a press conference during a the second and final day of a ministerial meeting in Paris. The IEA, the energy branch of the Organisation for Economic Co-operation and Development (OECD) and which represents the rich, oil consuming countries, calls regularly on OPEC to keep oil flowing and avoid putting the brakes on growth. The IEA last week lowered its forecasts for global growth in 2011 and 2012 and for oil demand, had based its projections on a slowdown in developed countries but not on a new, \"double dip\" recession, Fyfe said. The market currently remains \"tightened\" with the loss of a large portion of production from Libya and owing to lower than forecast production in non-OPEC countries, the expert said. The Libyan conflict has already lost the market 328 million barrels and normal production is not expected to resume before 2013. The IEA forecasts that oil demand will rise by 1.3 million barrels to 90.5 million barrels a day in 2012, according to its last monthly report. OPEC production should ideally be in the order of 30.6 million barrels a day, Fyfe said.  

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*

Arab Today, arab today no dip in oil demand next year Arab Today, arab today no dip in oil demand next year

 



Arab Today, arab today

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*

Arab Today, arab today no dip in oil demand next year Arab Today, arab today no dip in oil demand next year

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
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