Libya's oil and gas minister of OPEC's rotating presidency Abdul Barry Arous at the opening ceremony speech said that the current crude oil prices continue to fluctuate, the average price of about $ 100.85 a barrel, on the whole, a certain decline trend, which reflects the global reality of the slow pace of economic growth, coupled with ongoing debt crisis in Europe,hydraulic fracturing but also to a certain extent, exacerbated the developed economies, high unemployment and inflation risks in developing countries. However, this does not affect OPEC on the global economic growth and oil demand is expected to rise.
2013, world oil demand growth expected to be 0.8 million barrels / day, so OPEC oil supply has been a slight increase.
The next few months, OPEC will continue to closely monitor the global economic situation, to ensure an adequate supply of the oil market, while maintaining a reasonable price of oil.
UAE Energy Minister Su Haile · Mazrui said that the current international oil prices in a "fair and appropriate level." For oil-consuming countries, the current level of oil prices and the economic recovery will not have a negative impact on future growth. Currently, OPEC produces about 3,040 barrels of oil per day to meet the basic needs of the international oil market. UAE is currently investing billions of dollars for the development of large domestic recovery projects,fracturing proppant to the crude oil output by 2017 from the current 2.8 million barrels to 350 million barrels of upgrading.
Energy Charter participating experts You Liya · Presley doll slave watt told this reporter that OPEC's oil production, although the proportion of total global output was an unexpected turn, but its influence in the global oil market has not changed. Since 2008, OPEC's share of global oil production ratio of 41.5% of the total,Ceramic proppant followed by several years has decreased, but rose to 41 percent last year, to stabilize the international oil prices had a direct effect.
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