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| Russia plans to increase oil exports |
| Name：admin Time：2016/1/26 Read：1002 |
Russian Energy Minister Novak has told the media that Russia plans to increase oil production in 2016, and a slight increase in oil exports.
Novak pointed out that despite the current international oil market prices are low, but Russia's oil production and drilling continues, and has already started investment projects will be implemented and completed. Russian oil companies to increase oil production this year is expected, while a slight increase in oil exports. Novak also said that international oil prices this year, or will be within the average $ 30 a barrel to $ 50 range, global investment in oil exploration are on the decline. The international oil prices have financial characteristics, compared to the past crisis, rebalancing supply and demand this time will be longer, or until the end of the year to recover, can be said that nearly 45 years of the most enduring crisis. In this regard, Novak recommends Russian oil companies at a price of $ 25 per barrel to $ 30 a stress test.
Over the past 18 months, the excess supply has been a major factor dragging down oil prices, Saudi Arabia led OPEC to adhere to the policy does not cut in an attempt to support oil prices. Low oil prices push global oil demand to multi-year highs, but on the strategy in Saudi Arabia showing signs of success, the United States lifted the ban on oil exports for 40 years, and Iran will also increase crude oil production after the lifting of sanctions, which are exacerbated the crude oil market bearish sentiment. |
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