The OPEC Secretary General told about approaching the bottom of the collapse in the oil market


The recent rebound in the value of oil futures gives reason to polgate that 20-month collapse in the oil market, probably coming down. This is stated in the statement of the Secretary General of OPEC Abdullah El-Badri, to the International monetary Fund (IMF).

According to El-Badri, the approach to the bottom occurred on the background of global efforts to reduce overproduction of oil. Among the traits that positively affect nepathya pictures, he called the reduction in the number of U.S. rigs that have reduced the expectations of production in the US.

Assessment of OPEC, world demand for oil will increase in 2016 to 1.25 million barrels per day. The demand for OPEC oil is expected to rise to 1.8 million barrels per day. Oil supplies from countries outside OPEC, the organization estimated will be reduced by 700 thousand barrels a day.