Thursday, June 4, 2015

Russia: the world will face the shocking lack of energy during the years

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Alexander Novak announced, Russian Energy Minister, on Wednesday, that his country plans in the long term to maintain the volume of oil production at 10.5 million barrels per day, to contribute to global energy security. The news agency quoted "Sputnik" Russian, for Novak as saying during a seminar of the Organization of "OPEC", the long-term strategy for Russia in the global oil market, oriented to maintain the current level of production in the long term, stressing that the supply of oil and oil derivatives stable and reliable from Russia will play a role in reducing the potential for the global oil shocks, and promote global energy security. Novak and expected to see the next few years, a shortage of oil supply in the world, due to the freezing of some projects as a result of lower prices, he said, "the scarcity of supply that can happen within a few years, then it will be on projects that were not implemented now start production." He noted Russian energy minister that he does not notice a direct impact of the decisions, "OPEC" on the oil market, while increasing the role of States from outside the world body, which can increase the production for domestic consumption, explaining that the regulatory role of OPEC is still large, and has spare capacity. It is scheduled that "OPEC" countries hold twelve, at its next meeting, Friday in Vienna, amid expectations of maintaining the current levels of production in the second half of 2015 without change, to remain at a level of 31 million barrels per day.

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