TOKYO: Crude oil prices will recover by 2017 at the latest, boosted by growing demand from emerging markets, said Faith Birol, director of the International Energy Agency.“This year we expect more supply cuts from countries outside OPEC, some 700,000 barrels per day less,” Birol said during a meeting with Japanese Prime Minister Shinzo Abe.“Global demand for crude is growing at a healthy rate, led by India, China and other emerging economies,” the Japanese news agency Kyodo said.However, Birol said that conditions are tough for oil producing countries despite a recovery in the price of Brent crude of more than $45 per barrel.“I think $45 gives some relief to global crude producers, but it’s still too low to make shale oil production in the U.S. profitable,” he added.
NOTIMEX
Author Profile
- India Writes Network (www.indiawrites.org) is an emerging think tank and a media-publishing company focused on international affairs & the India Story. Centre for Global India Insights is the research arm of India Writes Network. To subscribe to India and the World, write to editor@indiawrites.org. A venture of TGII Media Private Limited, a leading media, publishing and consultancy company, IWN has carved a niche for balanced and exhaustive reporting and analysis of international affairs. Eminent personalities, politicians, diplomats, authors, strategy gurus and news-makers have contributed to India Writes Network, as also “India and the World,” a magazine focused on global affairs.
Latest entries
PostJuly 27, 2025Unleash your winning potential through thrilling gameplay and instant rewards with the 1win app on a- PostJuly 27, 2025Elevate your gaming adventure with thrilling live action and premium slots, all while enjoying amazi
India and the WorldJuly 26, 2025MPs, diplomats laud Operation Sindoor, call for national unity to combat Pakistan-sponsored terror- PostJuly 26, 2025Can your courage withstand the sizzling challenges of Chicken Road casino as you navigate the path t
