Experts: Prices will be boosted above $ 104 in October
had expected in the affairs of the oil that prices tend to rise during next
October, due to high demand after draining a large part of U.S. oil inventories
during the last period, in addition to rising Chinese imports. According
to experts, the price of oil above $ 104 will be strengthened with the entry of
next winter season.
a related development, company of energy consultancy "Wood Mackenzie"
said in a report published on Tuesday, and reported by agency
"Reuters" China will need to spend $ 500 billion annually on crude
oil imports by 2020, it is likely to exceed United States needs to become the
largest importer of oil in 2017.
company predicted rise of China's total imports to 9.2 million barrels per day
by 2020 from 2.5 million barrels per day in 2005, lower U.S. imports of 10.1
million barrels per day to 6.8 million barrels per day.
Durbin, head of global markets, "Wood Mackenzie" Said: "By 2020,
imports will meet 70% of the total Chinese demand for oil. On other hand will see
a drop in needs, United States imports fall due to tight oil production "
added that this trend means that many of traditional suppliers to the United
States from the Organization of the Petroleum Exporting Countries (OPEC) will
be forced to turn their attention to China.