Stable Increase on Oil Demand | High Gain for Oil Drillers | PFOREX News
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Stable Growing of Demands for Oil - 29th of April 2017

2017-04-29 07:23:20
The Saudi Aramco CEO Amin Nasser stated that the Oil price will increase as the global economy will soar up 100% by 2050. He refused the theories that estimate peak for Oil price within years as the Oil will be the main source of energy for the world. Some financial analyst and Oil companies believe that the Oil demand is at its maximum level and it will fall down as the demand for battery-powered cars will make the Oil price peaks in 2030. Some most prominent Oil companies as well as International Energy Agency support his anticipation that the demand for Oil will not touch the peak and the Oil will be the most important energy resource for decades. The most recent report about profit of prime Oil companies shows at least 25% increase higher than the previous year. The 2nd straight victory for the US prime Oil drillers in the quarterly period reveals the future bullish trend for the Oil price. The reduction on Oil production by 4% does not indicate any cutback on Oil demand as main Oil producing countries agree to regulate the Oil production rate with the Oil price.

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