Global Oil Demand Slightly Higher-Algeria Minister

Source: Reuters 11/14/2011, Location: Africa

Current oil prices are fair although there are signs of a slight increase in global oil demand although current prices were mainly in line with the global economy, Algeria's energy minister said. Speaking on the sidelines of a meeting of the Gas Exporting Countries Forum (GECF) in Doha, Youcef Yousfi said current oil prices were not a problem for the global economy.

"It seems that this oil price (today's) has no major impact on the global economy. I think a price around $100 a barrel is fair for consumers and producers," Yousfi said. "And it allows for oil and gas investments." "There are possible concerns about demand, mainly in Europe within some countries, which could decrease demand but also there are emerging countries like China and India where we see increasing demand so overall there will maybe be a slight increase in oil demand."

Asked about OPEC policy, Yousfi said OPEC had enough spare capacity to deal with any major supply problems. "Spare capacity in OPEC is enough," he told reporters. "It exists in majority of countries." He declined to say what Algeria's position would be in the next OPEC meeting scheduled in December. Yousfi also said the global gas market was balanced and that there were no signs of oversupply.


Georgia >>  7/1/2022 - Block Energy plc, the development and production company focused on Georgia, is pleased to announce its audited results for the year ended 31 December...
Canada >>  6/30/2022 - Just Energy Group Inc., a retail energy provider specializing in electricity and natural gas commodities and bringing energy efficient solutions and r...

Ireland >>  6/30/2022 - Lansdowne Oil & Gas is pleased to announce its audited results, for the year ended 31 December 2021. Lansdowne is an upstream oil and gas company, foc...
Nigeria >>  6/30/2022 - LEKOIL, the Cayman Islands litigation asset company with an investment in oil & gas assets in Nigeria, announces its final audited results for the yea...

Slovenia >>  6/30/2022 - Ascent Resources Plc, the onshore Caribbean, Hispanic American and European focused energy and natural resources company, announces its final results ...
United Kingdom >>  6/30/2022 - Stolt-Nielsen Limited reported unaudited results for the second quarter and first half of 2022. The Company reported a second-quarter net profit attri...

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  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.