Algeria : Energy, World Demand for oil to increase strongly in 2017, Total’s CEO says

  • 19 October 2017 / News / 447 / Emerging Africa


Algeria : Energy, World Demand for oil to increase strongly in 2017, Total’s CEO says

World demand for oil is expected to grow strongly this year, at a rate close to 1.6 million barrels per day, said Patrick Pouyanné, CEO of Total.

Speaking at a conference in London, he also anticipated a new wave of investment in the oil and shale gas industry in the United States, as US producers “get covered like crazy “Against a decline in crude oil prices.

While oil prices have doubled since a 12-year low last year, they are still some 100% lower than their last peaks in 2014.

According to Patrick Pouyanné, the decrease in the number of new projects under development caused by the collapse of prices, three years ago, could lead to a shortage of oil supply after 2020.


source: dzbreaking

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