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World oil reserves melting rapidly
Energy
- 04 April, 2017
- 14:06
Baku. 4 April. REPORT.AZ/ The volume of oil reserves or shipped to sea vessels (in maritime transit) reduced to 812 mln barrels as of April 3.
Report informs citing the Forexpf.ru, this is reported by oil market analysts from Vortexa.
According to the company, as of January 1, the world oil reserves amounted to 978 mln barrels.Thus, in the first quarter, the reduction is 17% or 166 mln barrels, which is quite a noticeable figure.Experts believe that oil reserves are falling much faster than expected.
Notably, in today's report, the French bank BNP Paribas forecasted an increase in oil prices up to $ 65 per barrel in the third quarter of 2017.
Current price of Brent crude oil is $ 53.60/bbl.
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