Baku 24° C
Halliburton: Oil prices will rise sharply
Energy
- 13 July, 2017
- 13:25
Baku. 13 July. REPORT.AZ/ Oil prices will have a sharp breakthrough in the future.
Report informs citing the Forexpf.ru, Senior Vice-President of Global Business Development & Marketing for Halliburton, Mark Richard said at the 22nd World Petroleum Congress in Istanbul.
M. Richard noted thatdecline in oil prices in recent years has decreased investments in this area in the amount of nearly $ 2 trillion.The decline in investment will affect the oil market in a few years and demand will exceed supply.
"Sooner or later we will get what we have lost. A sharp increase in oil prices will definitely happen. It is possible to happen in 2020-2021 years", M. Richard said.
Author
Latest News
23:52
Netanyahu describes UK as 'first Islamic republic to get a nuclear weapon'
Other countries23:52
Photo
Stolen paintings by Renoir, Cézanne and Matisse found in Italy
Other countries23:35
Houthis strike Saudi Aramco facility in Najran
Other countries23:15
Photo
Heavy rain causes problems in Tbilisi
Region23:02
US сonsiders sanctions as basis for pressure on Cuba
Other countries22:49
Photo
Five kickboxers from Dmanisi win medals at international tournament in Türkiye
Individual sports22:32
Emergency Ministry: No reports of damage or casualties after earthquake in Guba
Incident22:21
Kazakhstan and Austria discuss stability of oil supplies via CPC
Region22:16