Oil Trader: What does
IEA
Report mean for you?
The International Energy Agency "IEA" reveals in its
publication "World Energy Outlook 2013", an analysis analysts of future
energy and leadership of countries producing energy.
According to the annual report of the Agency, the energy future,
in particular oil, will not disappear and will even last much longer.
In its publication, the International Energy Agency devotes an
entire chapter on Brazil and the discovery of vast oil reserves at 5000 meters
deep on the coast of Santos and Campos (off Rio Janeiro). According to the
study conducted by the agency, Brazil will double its production by 2020
increasing it to 4.1 million barrels per day and even triple in 2035 (6 million
barrels per day) making it the sixth largest producer of crude.
In another chapter, the IEA study reveals another surprising
fact. The discovery of new oil wells and the development of unconventional
hydrocarbons, such as U.S. oil, which despite its quality of light liquid, will
increase the US productivity up to 11 million barrels per day therefore becoming
the world leader oil producer in 2015 and oil independent until 2035.
However from 2020, the OPEC countries, particularly those in the Middle East once again will become again the market leaders and meet the huge demand (101 million barrels per day in 2035), which according to the agency will keep the crude oil prices to $ 128 a barrel and thus reassures investors and all consumers who feared a spike in prices in the short term