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Friday, 19 October 17:56 (GMT -05:00)



Stock and commodities markets

USA Will Dominate Global Oil Market, IEA Says


 

Over the next 5 years, the United States will dominate the global market of crude oil. Up to 80% of the global oil demand growth will be covered by American oil companies, Bloomberg reports with reference to the International Energy Agency.
 
It seems like the OPEC won’t be able to resist American oil producers anymore even if they quit the so-called OPEC+ agreement. American shale oil is expected to make up over 50% over the production and export growth. By 2023, non-OPEC oil producers will have grown by 5,2 million barrels a day all the way up to 63,3 million barrels a day. At the same time, OPEC nations are expected to increase their production only by 750K b/d. Venezuela is expected to become the key deterrent since its production capacities are nearly frozen by the local economic crisis.
 
In 5 years, the daily oil production in the United States is expected to increase by 2,7 million barrels up to 12,2 million barrels a day. The American export of crude oil is expected to increase by more than 100% all the way up to 49 million b/d. the IEA predicts.

China is expected to stay the world’s biggest oil consumer. The global demand for crude oil is expected to increase up to 104,7 million b/d.

At the same time, the experts warn that higher production will definitely require more investments in the industry. Because of oilfield aging, the daily production is 3 million b/s lower, which corresponds to the amount of crude oil produced in the North Sea. By 2023, the local production capacities are expected to drop down to the lowest level since 2007.

At the same time, the OPEC nations have to admit that their rivals are becoming major players in the global market. By the way, the OPEC+ agreement will expire in late 2018.
 

 

 

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OPEC Loses Grip on Global Energy Market

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Global Trade War Will Push Gold Price to $1400/oz

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According to the Energy Minister of the UAE, the OPEC is ready to start asking American shale oil producers to stop boosting their shale oil production. The statement was made during the International Petroleum Week (IP Week).

Publication date: 06 March 10:29 AM

Shale Oil Threatens with an Oil Market Crash to 2014 Levels

The two years' period of moderately high oil prices is about to be over, the International Energy Agency assumes. They say that the global supply is likely to exceed the global demand, which will push down oil prices, may be even to the levels of 2014.

Publication date: 05 March 03:50 AM

Alpari Signs Up Russian Sportscaster Vasili Utkin

lpari has always been known for partnering with celebrities. This time this major forex brand has teamed up with famous Russian sportscaster Vasili Utkin. The partnership agreement is valid until the end of 2018.


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Oil Prices Will Be Affected By Geopolitical Risks in 2018

The end of 2017 was clearly positive for oil-exporting nations. For example, Brent oil futures traded at 66,60 dollars per barrels on December 29th. Will the existing bullish trend persist in 2018? 

Publication date: 16 January 06:32 AM

Euro Exchange Rate Reaches Highest Level Since Late 2014

The common European currency keeps on growing driven by the news on the formation of a new German government. The price rally started in 2017. At the same time, experts are getting more and more optimistic about the prospects of the Eurozone and the European Union in general, Deutsche Welle reports.


Publication date: 16 January 01:49 AM

Experts Criticize OPEC+ Agreement for Unpredictable Outcomes

OPEC exporters may beat the target related to the OPEC+ agreement, which now seems to be a point of concern for international investors, The Wall Street Journal reports.

Publication date: 27 November 05:06 AM

Market Reaction to Zero Change in Fed’s Rate

Publication date: 23 September 03:30 AM

U.S. Investigation of Offshore Capitals May Ruin Putin’s Regime, Aslund Says

The international expert community has been busy discussing the search of Russian offshore capitals by Americans. Anders Aslund assumes that this investigation may eventually put an end to Putin’s regime.

 

 

 


Publication date: 06 September 11:37 PM