The oil and gas sector carries a bearish outlook on the back of sluggish global growth, forecasted at 3 percent for 2019, the lowest since 2008-09.
Although the International Monetary Fund (IMF), in its latest outlook in October, predicted a 3.4 percent growth for 2020 on the back of marked economic improvement in certain emerging markets, growth could be downplayed by a slowdown in markets such as China and the US as well as geopolitical strains, it said.
The numbers from the Organisation of Petroleum Exporting Countries (OPEC) also corroborate a slowdown, with global demand for OPEC crude estimated to average 29.6 million bpd in 2020, a drop of 1.2 million bpd from 2019. The OPEC group’s production in September was 1.32 million BPD lower month-on-month at 28.49 million bpd, primarily due to the attack on Saudi Aramco’s oil facilities.
هذه القصة مأخوذة من طبعة November 2019 من Gulf Business.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة November 2019 من Gulf Business.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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