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At least in the distant past the Red planet had a liquid bodies of water
![]() OPEC revenue is expected to get higher if the group does not make any additional investments. ![]() 27.Sep.16 4:09 PM By Alesya Davydova Photo Toinnov.com |
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A group of analysts from Merrill Lynch, an investments wing of Bank of America, published a new report on global oil markets. Their research shows that the decline of new investments in oil and gas industry means a coming end of the current oil glut. They found out that new ventures of both members and non-members of the Organization of Petroleum Exporting Countries (OPEC) suffered a double-digit drop. “Global oil spare production capacity has dropped on rising OPEC output, and 2020 Brent and WTI crude oil prices have dropped, partly on fears that the cartel will keep growing its market share,” the report says. Merrill Lynch’s analysts suppose that OPEC should stop new investments. That may lead to an increase in their ventures. “Our estimates imply that it makes little sense for OPEC to invest aggressively to grow production from this point onward,” they said. “We believe OPEC revenue will likely be higher if no additional investments are made.” On Wednesday OPEC members are to discuss the measures to settle global market on the sidelines of the International Energy Forum in Algiers. |