RaGe eSport League » He said that the market should be allowed

by Xinhua writer Chen Jipeng


BEIJING, Jan. 14 (Xinhua) -- The prices of crude oil are most likely to stay at relatively low levels in the near future as there are no signs of major producers taking actions to ease a severe oil glut yet.


Nevertheless, some energy officials and analysts said that they expect the oil glut to gradually rebalance itself into 2016 air max plus uomo scontate , though the high oil prices seen in the past may not be recovered soon.


Observers said that the low oil prices have increased fiscal pressure on oil producers while benefiting oil importers, and that they may be a boon for the still fragile global economy.


On Tuesday, the West Texas Intermediate for February delivery moved down 97 cents to settle at 30.44 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for February delivery shed 69 cents to close at 30.86 dollars on the London ICE Futures Exchange.


International oil prices have been trending downward since 2014 as some of the oil producers increased their output and members of the Organization of the Petroleum Exporting Countries (OPEC) flooded the global market with cheap crude in hopes of driving out competing supplies.


Speaking at the Seventh Gulf Intelligence UAE Energy Forum meeting in Abu Dhabi on Tuesday air max plus nere scontate , United Arab Emirates Energy Minister Suhail bin Mohamed al-Mazroui insisted that it is unfair to ask only OPEC to cut its production given that an estimated increase of 2.7 million barrels of per day in global supply have come from countries outside the oil cartel.


He said that the market should be allowed to rebalance itself based on supply and demand, which should also be OPEC's strategy.


The global oil supply inched up to 96.9 million barrels per day in November last year, which was 1.8 million barrels per day higher than the supply a year earlier, according to the International Energey Agency (IEA).


Separately air max plus bianche scontate , the United States Energy Information Agency in its latest report puts the global oil supply in 2015 at 95.71 million barrels per day on average, compared with the consumption of 93.77 million barrels per day. It expects the oil glut to persist through 2016.


OPEC has had an output target, which was last set at 30 million barrels per day. However, in reality the OPEC production has been running at an average of 31.7 million barrels per day air max plus scontate , with Saudi Arabia and Iraq pumping at or near record rates, the IEA said.


The pressure on world oil prices also comes from the expectation that the supply from Iran may hit the market t. Wholesale NHL Jerseys Cheap Wholesale Authentic College Jerseys Cheap Under Armour Womens Shoes Cheap Under Armour Shoes Cheap Air Huarache Ultra Run Cheap Air Huarache Shoes Cheap Air Huarache All Red Cheap Air Huarache Womens Cheap Air Huarache All Black Cheap Air Huarache Triple White