18383
Saudis Happy With Oil Market
Energy

Saudis Happy With Oil Market

Saudi Arabian Oil Minister Ali Al-Naimi said he was "100 percent comfortable" with the oil market, in terms of supply and demand, Tradearabia reported. Al-Naimi said "I know the oil trading sector well, today the world consumes 93 million barrels per day (bpd) and if we deduct liquids and others, the global consumption reaches 75 million bpd and the annual natural decline rate is 10 percent which means the world loses every year 7.5 million bpd so you can compensate these volumes through drilling new wells."

 

Short URL : http://goo.gl/hvKf0s

You can also read ...

Eni Returns to Profit
New oil and gas project startups and higher oil prices helped...
Europe Keen on Iran Joining SGC
Europe wants countries rich in natural resources to join the...
Oil Gains in Weekly Recovery
Oil prices edged up on Friday as a rebound in the global...
Zarubezhneft, IDRO Oil to Study Susangerd Oilfield
Russian oil and gas firm Zarubezhneft Company has signed a...
Tehran Power Grid Wastage Declines to 3.2%
In line with efforts to minimize blackouts in the capital,...
An investment of $211 million is needed to supply 50 mcm of water per annum to the central provinces.
Water transfer from the Caspian Sea in the north and the...

Trending

Googleplus