The price of oil dropped yesterday, after a series of gloomy predictions about the growth of demand that suggested that the world surplus of unused reserves might be kept much longer than the investors are hoping them to and to slow down any growth of prices, Reuters reported.
The International Energy Association stated the sudden slowdown in the growth of world demand for oil, together with enormous reserves and growing production, means that the market of raw energy sources will be oversaturated, at least during first six months of 2017.
This is contrary to the forecasts that date one month back, according to which the offer and demand will be in balance by the end of this year and that reserves will reduce soon. The latest comments from the International Energy Association came after yesterday’s surprisingly pessimistic predictions by the OPEC.
(Source: klix.ba/photo: visoko.co.ba)
