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The International Energy warns of catastrophe in global markets
Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
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The International Energy warns of catastrophe in global markets
{International: Euphrates News} International Energy Agency warned that the global crude oil market could see a severe shortage of supply in coming years, which will cause a wave of large fluctuations in commodity prices.
The International Energy said in a report published by the oil prices remain at low levels may have serious consequences in the future, due to the decline in the level of investment in this vital sector. The agency added that the additional money was not spent on the discovery and development of new fields, the world will face increasing demand and lack of supply with the beginnings of the next decade, which could lead to the rise of oil prices again.
The data indicate that investment in new oil sources in 2015, was at its lowest level since the fifties of the last century, due to the fall in oil prices since mid - 2014 , more than 50%.
The decline in investment in the oil fields of the year , 780 billion dollars in 2014 to 580 billion in 2015 year, to reach during the current year to $ 440 billion.
The agency stressed that "if the level of investment in the oil sector remained low for the third consecutive year, the probability would be minimal to meet the supply of oil need of the market."
International Agency pointed to the need to increase investments in new oil fields in the year 2016 to meet the demand for crude oil in the future, the fact that oil production from new fields requires 3-6 Snoat.
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Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
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