The International Energy expects continued oversupply until the end of 2016 12-11
The International Energy expects continued oversupply until the end of 2016
Date: 11/12/2015 17:21
Information / BAGHDAD / ..
The International Energy Agency predicts that world oil markets continue to suffer from oversupply until the end of 2016, at least in light of slowing demand growth and increase the "OPEC" production.
The International Energy said that "the global oil supply glut will worsen in the coming months because of the additional supplies from Iran, in the event of a lifting of Western sanctions imposed on it, and that will push more oil in stock."
Tehran believes that it has the right to regain market share lost as a result of sanctions imposed on it in late 2011, where Iran is planning to increase its exports by about a million barrels per day after the lifting of sanctions.
Agency, which provides advice to the developed countries on energy policies and added that the pace of storage will slow next year and that he is unlikely to run out of the global storage capacity.
The agency said in its monthly report: "global oil markets will remain oversupplied until late 2016 at least ... but the rhythm of increase in global inventories would fall by almost half in the next year," .anthy / 25 u