Investments in global oil sector to hit $ 260 bln next year

Investments in global oil sector to hit $ 260 bln next year
Oil market may face a deficit in 2019

Baku. 27 December. REPORT.AZ/ In 2018, investments in the global oil sector expected to increase by 4.5% or 11.3 billion compared to 2017 and reach $ 261,6 bln. 

Report informs, the Bloomberg Intelligence said according to the results of the survey. However, this indicator is 1.9 times lower than the maximum limit of 2013 ($ 495.9 bln).

According to the Wood Mackenzie energy consulting and research firm, 80% of investments will be directed on new projects in new year.Oil producing companies have expressed their desire to invest in mainly shale oil sector.

So it is possible to drill the shale oil deposit on a hard ground floor in a day for a total of several million dollars.

According to the OPEC forecasts, the shale oil production in next four years üill reach 7.5 mln barrels/day.

According to report of International Energy Agency (IEA), increase in shale oil production may not fully meet the rising demand for oil. Therefore, investment in traditional projects will be inevitable. Experts from the Canadian Suncor Energy think that if the investment in traditional projects not increases, oil market may face a deficit in 2019.

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