Low oil prices will be adjusted in the following once equalized the demand and supply on the market of energy carriers. This is according to the report, which was done at the International energy Agency. It is reported by RIA Novosti.
The organization noted that during 2014 and 2015 oil production exceeded demand by 0.9 and 5 million barrels per day, respectively. This year, according to the IEA forecasts, this gap will remain and will amount to 1.1 million barrels per day. It is expected that the indicator will be aligned next year.
It is noted that the terms of the oil market suggests that in the short term there will be a sharp rise in oil prices, unless you happen geopolitical events of the utmost importance.
According to their forecast, the global demand for oil, which last year was equal to 94,4 million barrels per day, will exceed the psychologically important threshold of 100 million barrels in the period between 2019 and 2020.
A sharp decrease in the cost of oil began in 2014. In the summer of that year a barrel of Brent oil gave $ 115, and at the beginning of this year the price dropped to 30 dollars per barrel. The main factor that puts pressure on oil prices, the situation where demand is much less than the offer.