Algerian Former Energy Minister Noureddine Ait Elhoucine : no return of cheap oil era

He confirmed during a symposium organized by “El Watan” newspaper, entitled “world oil markets bets new mounting challenges”, transformations taking place in various energy world markets during the recent years confirmed that cheap oil era has gone and will never return except in one case which is a collapse of the global economy, particularly with the geopolitical tensions increase and the role played by the operating companies to raise prices at very high levels due to oil selling operations.

• Noureddine Ait Hocine revealed that the transactions volume in futures markets will be more than billions of dollars, which made the volume of oil rolling electronically in more than actual supply, which is a strong pressure on prices in addition to the continuous panic that struck the permanent consumer countries of the world production arrival to it’s peak and the beginning of the retreat production beginning after few years.
• The spokesmen pointed out that oil’s prices retreat were not allowed to producer countries to renew its infrastructure in energy sphere over the past decade, which would make the question of increasing supplies in the coming decades a difficult process, and that encouraged experts to emphasize that prices will maintain the rates over 100 dollars a barrel at least on long average.
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