Impact of oil price decline on global demand and supply of oil discussed at London Energy Conference

Discussion will include impact of the oil price decline on global demand and supply of oil

London. 6 October. REPORT.AZ/ International Oil & Money Conference kicked off today in London. Report informs Oil & Money Conference attracted over 500 senior level executives from more than 43 countries.

Representatives of the investment agencies from ExxonMobile,  "Gasprom", "Goldman Sach" and others attend conference held on October 6-7. The conference organized around a decline in oil prices in November 2014 and its impact on the global economy.

Speaking at the conference, President of Chevron Africa and Latin America Exploration and Production Ali Moshiri said that the in case the price of oil at 40-50 dollars per barrel water depth production costs 70-80 dollars.

President of "Riverstone Holdings" Mark G.Papa noted that America's oil production has fallen to the lowest level since January."Since January, oil production in the US decreased by 700 thousand barrels daily.This, of course, due to the fall in oil prices.I think that to increase production in the US the price of a barrel of oil must be 80 USD.US shale oil price of 75 USD is enough for today.45 USD is very low, and 95 is very high, "- M.G.Papa said.

Since its inauguration in 1980, the Oil & Money Conference annually gathers the most significant senior executives from the petroleum and natural gas industry across the globe and continues to set the standard for candid, high-level discussion and debate on issues of the day.

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