Three prediction worldwide oil demand prediction will carry on to descent
Since the financial crisis, global oil demand has been flagging. From the beginning of this year, including the International Energy Agency, the U.S. Energy Information Administration and OPEC forecast, including the three major organizations are the latest oil supply and demand report, world oil demand this year is expected to fall again, fall record low.
Since the economic urgent position, international oil demand has been flagging. From the starting of this year, encompassing the International Energy Agency (IEA), the U.S. Energy Information Administration (EIA) and OPEC outlook, encompassing the three foremost associations are the newest oil provide and demand report, world oil demand this year is anticipated to drop afresh, drop record low.
The three instrumentalities reduced oil demand
Energy Agency is commonly founded on international GDP development outlook for oil demand, and not too long before, the International Monetary Fund (IMF) considerably decreased the outlook of international GDP, said the international finances to shrink this year, up to 1% for the first time since World War II contradictory development, last modified development outlook of 0.5%.
A communication, the world's greatest vitality forecasting instrumentalities have reduced this year's worldwide oil demand forecast.
Published in the newest IEA monthly report that international oil demand outlook down to 83.4 million barrels / day, for 29 years to fall the large-scale, the number is the smallest 5-year values. Among them, the evolved nations, demand for oil this year, dropped 4.9 per hundred last year, evolving nations may be the first time since 1994 emerge down turn in demand for crude oil.
In January this year to April, IEA for 2009 global oil demand is expected to steadily decline, decline of 430,000 barrels / day, down 1 million barrels / day, down 1.2 million barrels / day, as well as the decline in the recently released 240 million barrels / day. "At present, the pace of global economic recession comparable to the early 80s of last century." IEA said in its report.
Not only that, in spite of 14 months EIA4 short-term vitality outlook liberated as pessimistic IEA said, but forced down by monetary descent, which will carry on in 2009 on worldwide oil demand assesses worse than the March diagram 180,000 barrels per day.
OPEC furthermore in a couple of days before for the first 8 months of this year to slash its international oil demand forecast. OPEC said world oil demand in 2009 approximates will be a every day decrease of 430,000 barrels a day, decreased to 84.18 million barrels / day. Last month, OPEC forecast world oil demand this year will be decreased by 1.2%.
Is the principle source of the worldwide monetary downward spiral
Forecast for the same three major institutions of global oil demand will be the main cause of decline attributed to the financial crisis brought about by the global economic downturn.
OPEC, in its monthly oil market that the worldwide monetary downward spiral carried on to inhibit expansion in oil demand, principally in inhibiting the United States, Japan and China's oil demand growth. Industrialized nations, oil demand will descent this year, while oil demand in deducing nations may be a small increase.
IEA believes that the world's largest oil consumer the United States, energy demand is substantially lower demand for crude oil this year, the main reason, but has been seen as engines of global energy in China and other emerging markets, have also begun to show signs of decline.
Energy consumption as the world's major powers, the United States in the fourth quarter of 2008 the economy will shrink by 6.3 percent, about the worst performance in 25 years. Economists expected the first 3 months are also the weak performance of the economy, some economists expect the economy contracted by 4 ~ 5%. President of the United States, notwithstanding the recent Obama and the issue of Federal Reserve Chairman Ben Bernanke on the U.S. economic outlook optimistic assessment warmer, but many economists have been questioned.
The IEA report predicts that China is likely to usher in 2009 for the first time in 19 years a drop in demand of crude oil, the rate will reach 1%. And other emerging economies, oil demand was reduced by 0.1%.
IEA said in the report, comprehensive in January and February data, the current Chinese oil demand over the same period fell 6.9%. In this regard, some experts believe that: "January and February of the decline in oil demand, on the one hand, the impact of economic crisis, a general decline in the factory operating rate, slower growth in the petrochemical industry. On the other hand, taking into account the production factor in the Spring Festival holiday plants . "
In augmentation, the General Administration of Customs of China liberated written knowledge present that China's March crude oil deals of 3.86 million once a day barrels, more than the deals in February advanced 33 percent. This is in addition China's crude oil deals bang a high of over the past year, only in March last year, the utmost purpose of the 17.3 million tons less 960,000 tons.
Recovery in demand as early as next year
Three forecasting organizations in the report also when oil consumption is predicted to change the tide.
In mid-March, New York oil prices in 50 U.S. dollars this year on the first return. IEA considers that the recent rebound in crude oil is due to many factors, but the ultimate decision factor in oil prices is still supply and demand, and the continuing global economic weakness in the short term will not change on the global oil demand is expected pessimistic.
The EIA furthermore said that international oil provide as OPEC decreased oil output to decrease considerably counteract by the international financial recession initiated by down turn in oil demand effect. EIA professionals, the latest down turn in oil charges OPEC to constrain yield and to a unassuming rebound in prices. EIA furthermore advised that the influence of international financial worsening, the United States mean cost of crude oil this year is approximated to be 53 U.S. dollars a barrel, if the finances retrieve its up tendency in 2010, then oil charges will increase to round 63 U.S. dollars a barrel.
Low in the worldwide oil use, the OPEC components will fulfil stringently with the goods produced strategies have been announced. OPEC's report presentations that in March by the goods produced quotas of the 11 OPEC components to lessen goods produced in February more than 245,000 barrels a day, still higher than the objective of 720,000 barrels of high yield. OPEC accepted in March in the implementation rate of 83 out of 100, while the historic midpoint stage of about 60%. Market participants have said that "the implementation of the rate of 60 out of 100 is much higher than the historic midpoint stage of OPEC may be the implementation of the arrange is the best performance."
Moreover, OPEC's issue of outlook furthermore in the happening of alterations, more and more persons accept as factual that oil charges increased to round 50 U.S. dollars a barrel has become a compromise cost, manufacturers can rendezvous demand, they can battle hard with the financial recession of the buyer were acceptable. Therefore, it is usually advised the market, OPEC output affirmation is improbable to farther advance the degree of implementation.
Published monthly IEA report in addition predictions the worldwide economic procedure and demand for crude oil in 2010 will it be probable to recoup, as the last one 100, the early 80's for 4 years descent in demand for crude oil will not occur. - 2361
Since the economic urgent position, international oil demand has been flagging. From the starting of this year, encompassing the International Energy Agency (IEA), the U.S. Energy Information Administration (EIA) and OPEC outlook, encompassing the three foremost associations are the newest oil provide and demand report, world oil demand this year is anticipated to drop afresh, drop record low.
The three instrumentalities reduced oil demand
Energy Agency is commonly founded on international GDP development outlook for oil demand, and not too long before, the International Monetary Fund (IMF) considerably decreased the outlook of international GDP, said the international finances to shrink this year, up to 1% for the first time since World War II contradictory development, last modified development outlook of 0.5%.
A communication, the world's greatest vitality forecasting instrumentalities have reduced this year's worldwide oil demand forecast.
Published in the newest IEA monthly report that international oil demand outlook down to 83.4 million barrels / day, for 29 years to fall the large-scale, the number is the smallest 5-year values. Among them, the evolved nations, demand for oil this year, dropped 4.9 per hundred last year, evolving nations may be the first time since 1994 emerge down turn in demand for crude oil.
In January this year to April, IEA for 2009 global oil demand is expected to steadily decline, decline of 430,000 barrels / day, down 1 million barrels / day, down 1.2 million barrels / day, as well as the decline in the recently released 240 million barrels / day. "At present, the pace of global economic recession comparable to the early 80s of last century." IEA said in its report.
Not only that, in spite of 14 months EIA4 short-term vitality outlook liberated as pessimistic IEA said, but forced down by monetary descent, which will carry on in 2009 on worldwide oil demand assesses worse than the March diagram 180,000 barrels per day.
OPEC furthermore in a couple of days before for the first 8 months of this year to slash its international oil demand forecast. OPEC said world oil demand in 2009 approximates will be a every day decrease of 430,000 barrels a day, decreased to 84.18 million barrels / day. Last month, OPEC forecast world oil demand this year will be decreased by 1.2%.
Is the principle source of the worldwide monetary downward spiral
Forecast for the same three major institutions of global oil demand will be the main cause of decline attributed to the financial crisis brought about by the global economic downturn.
OPEC, in its monthly oil market that the worldwide monetary downward spiral carried on to inhibit expansion in oil demand, principally in inhibiting the United States, Japan and China's oil demand growth. Industrialized nations, oil demand will descent this year, while oil demand in deducing nations may be a small increase.
IEA believes that the world's largest oil consumer the United States, energy demand is substantially lower demand for crude oil this year, the main reason, but has been seen as engines of global energy in China and other emerging markets, have also begun to show signs of decline.
Energy consumption as the world's major powers, the United States in the fourth quarter of 2008 the economy will shrink by 6.3 percent, about the worst performance in 25 years. Economists expected the first 3 months are also the weak performance of the economy, some economists expect the economy contracted by 4 ~ 5%. President of the United States, notwithstanding the recent Obama and the issue of Federal Reserve Chairman Ben Bernanke on the U.S. economic outlook optimistic assessment warmer, but many economists have been questioned.
The IEA report predicts that China is likely to usher in 2009 for the first time in 19 years a drop in demand of crude oil, the rate will reach 1%. And other emerging economies, oil demand was reduced by 0.1%.
IEA said in the report, comprehensive in January and February data, the current Chinese oil demand over the same period fell 6.9%. In this regard, some experts believe that: "January and February of the decline in oil demand, on the one hand, the impact of economic crisis, a general decline in the factory operating rate, slower growth in the petrochemical industry. On the other hand, taking into account the production factor in the Spring Festival holiday plants . "
In augmentation, the General Administration of Customs of China liberated written knowledge present that China's March crude oil deals of 3.86 million once a day barrels, more than the deals in February advanced 33 percent. This is in addition China's crude oil deals bang a high of over the past year, only in March last year, the utmost purpose of the 17.3 million tons less 960,000 tons.
Recovery in demand as early as next year
Three forecasting organizations in the report also when oil consumption is predicted to change the tide.
In mid-March, New York oil prices in 50 U.S. dollars this year on the first return. IEA considers that the recent rebound in crude oil is due to many factors, but the ultimate decision factor in oil prices is still supply and demand, and the continuing global economic weakness in the short term will not change on the global oil demand is expected pessimistic.
The EIA furthermore said that international oil provide as OPEC decreased oil output to decrease considerably counteract by the international financial recession initiated by down turn in oil demand effect. EIA professionals, the latest down turn in oil charges OPEC to constrain yield and to a unassuming rebound in prices. EIA furthermore advised that the influence of international financial worsening, the United States mean cost of crude oil this year is approximated to be 53 U.S. dollars a barrel, if the finances retrieve its up tendency in 2010, then oil charges will increase to round 63 U.S. dollars a barrel.
Low in the worldwide oil use, the OPEC components will fulfil stringently with the goods produced strategies have been announced. OPEC's report presentations that in March by the goods produced quotas of the 11 OPEC components to lessen goods produced in February more than 245,000 barrels a day, still higher than the objective of 720,000 barrels of high yield. OPEC accepted in March in the implementation rate of 83 out of 100, while the historic midpoint stage of about 60%. Market participants have said that "the implementation of the rate of 60 out of 100 is much higher than the historic midpoint stage of OPEC may be the implementation of the arrange is the best performance."
Moreover, OPEC's issue of outlook furthermore in the happening of alterations, more and more persons accept as factual that oil charges increased to round 50 U.S. dollars a barrel has become a compromise cost, manufacturers can rendezvous demand, they can battle hard with the financial recession of the buyer were acceptable. Therefore, it is usually advised the market, OPEC output affirmation is improbable to farther advance the degree of implementation.
Published monthly IEA report in addition predictions the worldwide economic procedure and demand for crude oil in 2010 will it be probable to recoup, as the last one 100, the early 80's for 4 years descent in demand for crude oil will not occur. - 2361
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