Future of the oil market depends on the reasonable volumes of production today
The global oil market next year will become more balanced, if the countries, that are OPEC members, will be able to keep the extraction of raw materials at the current level - 32.7 million barrels a day. This scenario is predicted by experts of the International Energy Agency for the next year. Experts believe that in three of the four quarters the consumption of the “black gold” in the world market will be adequate to the volumes of its production. But only if the raw materials are extracted no more than before, and if there are no extreme weather events. As for states that are not members of the oil cartel, according to experts, the growth of hydrocarbon production in these countries will be compensated by growth of demand in the world oil market.
