“It’s convincing that Nigeria, Venezuela, Algeria and Libya suddenly increase oil production. Only in the Latin America oil production decreased by 500 thousand barrels”, he said.
He believes that to focus on the return of the "big game" of slate companies in the US is also quite recklessly, as the price per barrel of "black gold" in the $ 50 - this is only an indicator, psychological mark.
“In reality, the US shale companies will only be able to increase production at a price above $ 60 per barrel, and the serious apprehension”, - the expert said.
"All are guided by shale oil, although it is only 5.5 million barrels per day from 90 million barrels per day to the world market price of oil fell seriously, we should see a substantial increase in shale oil production.", - The expert said.
He predicted that oil prices will continue to grow and by the end of next year will reach $60 per barrel. At the same time he did not rule out price spikes due to the highly volatile geopolitical situation in the world.
He also noted that the role of OPEC will gradually disappear, because Saudi Arabia is actually playing alone and as part of a strategy of "Perspective 2030" not focused on the potential of OPEC. Azerbaijan looks quite unstable, it is possible to reduce oil pr”duction".
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