Gulf Oil and Gas accountACCOUNT

IEA Anticipates Global Oil Demand to Drop

Source: KUNA 9/13/2011, Location: Middle East

Share |
The International Energy Agency (IEA) said global oil demand would drop by 200,000 barrels per day (bpd) in fourth quarter this year because of slow economic growth worldwide. The Paris-based energy consumers' organization that groups 28 of the world's most industrialized countries, anticipated, in its monthly report, continuous decline in global oil demand, by 400,000 bpd, in 2012.

It attributed this decrease to slow economic growth in industrial countries and China. IEA also projected global oil demand to reach 89.2 million bpd this year, more 1.2 percent than 2010. The powerful IEA oversees and advises on energy policies in its member countries and closely monitors a 90-day forward consumption oil reserves that are obligatory for all members.

IEA welcomed resumption of oil production in Libya, but said full operation would need tough and long time. The Paris-based IEA has cooperation agreements and information exchanges with the OPEC oil producer group, which includes Kuwait and major Gulf countries.

Economics/Financial Analysis News in Kuwait >>

Oman >>  2/15/2018 - Saipem has been awarded a new contract in the onshore E&C sector worth approximately USD 750 million. Work involves engineering, procurement, construc...
Kuwait >>  2/13/2018 - EQUATE Group, a global producer of petrochemicals, proudly announces that 34 Kuwaiti operations technologists have joined the companyís growing team o...

Saudi Arabia >>  2/12/2018 - Wood has secured a new multi-million dollar, five-year contract to support Saudi Aramco in the delivery of one of its mega-projects in the Kingdom of ...
United Arab Emirates >>  2/7/2018 - A US $3.1 billion project to introduce crude processing flexibility, at the Abu Dhabi National Oil Company (ADNOC) owned Ruwais oil refinery, was anno...

United Arab Emirates >>  1/31/2018 - His Excellency Dr Sultan Al Jaber, UAE Minister of State and ADNOC Group CEO, has held a series of meetings with government and corporate leaders in B...
Israel >>  1/29/2018 - Energean Oil & Gas is pleased to announce that Energean Israel has signed a contract with Stena Drilling for the development drilling of the Karish Fi...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Kuwait Oil & Gas 1 >>  2 | 3 | 4 | 5 |

More News

 

Oil & Gas Companies in Kuwait >>


Related Links

AE BH IL IQ JO KW LB OM QA SA SY YE
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.