The Organization of Petroleum Exporting Countries (OPEC) has increased the forecast of world demand in oil in 2013 by 34,000 barrels a day up to 89.78 million barrels a day.
OPEC reported that in 2014 the forecast will be 90.78 million barrels a day (up 1.2% against this year).
In 2013 OPEC’s demand in oil expected to be 29.9 million barrels a day, down 500,000 barrels a day against 2012. In 2014 OPEC expects to have demand in oil at 29.6 million barrels a day.
The forecast of oil production in the non OPEC-members was increased by 35,000 barrels a day up to 54.1 million barrels a day, which envisages growth by 1.18 million barrels a day against 2012. In 2014 oil production outside of the cartel is expected to grow by additional 1.2 million barrels a day up to 55.3 million barrels a day.
In October the OPEC member-states extracted in average 29.89 million barrels a day, which is equal to September’s level. The production growth was registered in Iraq and Libya, which compensated the decline in Saudi Arabia.—0—
Economics
-
Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
-
Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
-
Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
-
Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
Leave a review