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China's voice in the oil market will increase

China's voice in the oil market will increase

(Summary description)The latest annual report on the Development of the Oil and gas Industry at home and abroad,compiled and published by the Economic and Technological Research Institute of China National Petroleum Corporation,was released recently.According to the report,at present,the global oil and gas industry entered a new period,easing the world oil market supply and demand situation is difficult to change,the international oil price stability,low expected before 2015,international oil prices will be low after high,overall level sharply down from 2014,west Texas intermediate crude oil annual price at$65 a barrel to$55,brent crude annual average price from$60 to$70 a barrel.

China's voice in the oil market will increase

(Summary description)The latest annual report on the Development of the Oil and gas Industry at home and abroad,compiled and published by the Economic and Technological Research Institute of China National Petroleum Corporation,was released recently.According to the report,at present,the global oil and gas industry entered a new period,easing the world oil market supply and demand situation is difficult to change,the international oil price stability,low expected before 2015,international oil prices will be low after high,overall level sharply down from 2014,west Texas intermediate crude oil annual price at$65 a barrel to$55,brent crude annual average price from$60 to$70 a barrel.

Information
The latest annual report on the Development of the Oil and gas Industry at home and abroad,compiled and published by the Economic and Technological Research Institute of China National Petroleum Corporation,was released recently.According to the report,at present,the global oil and gas industry entered a new period,easing the world oil market supply and demand situation is difficult to change,the international oil price stability,low expected before 2015,international oil prices will be low after high,overall level sharply down from 2014,west Texas intermediate crude oil annual price at$65 a barrel to$55,brent crude annual average price from$60 to$70 a barrel.
The expert analysis points out that 2014 is a year of great shock,great adjustment and great turning point in the oil and gas industry.The global oil and gas market is being reshaped.The unconventional oil and gas revolution has led to a reversal of the supply and demand pattern and a sharp drop in international oil prices.The world oil and gas industry has reached a turning point in a new cycle.At the same time,China's oil consumption has shifted gears,the development of natural gas has fallen short of expectations,and the process of industry reform and marketization has been accelerating.China's oil and gas market is facing a major turning point.
The report predicts new changes in the world's oil supply,demand and trade patterns in 2015.From the point of view of the supply pattern,the international oil price falls sharply,leading to the reduction of investment by oil companies,which will gradually show the inhibitory effect on oil production.The first is new investment in high-cost unconventional capacity such as shale oil,oil sands and heavy oil.Low-cost production capacity in the Middle East region will gain more market space and have greater potential for production growth.From the perspective of demand,the accelerated recovery of the world economy and the low international oil price will stimulate oil demand.From the trade patterns,the asia-pacific region will continue to lead the world oil demand growth,under the condition of the oil market share increased competition,as the world's main source of China's oil demand growth will be vying for object,strategic buyers position of Asian countries will be promoted,the influence of China in the international oil market and voice will be improved.

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