The end of 2013 .. Canada will replace oil and Saudi crude Kuwaiti and Iraqi

03/10/2013



BAGHDAD / JD / .. A report published by Citigroup suggests that heavy oil in Canada will replace imports of imported crude oil from Saudi, Kuwait and Iraq by the end of this year, and that rising U.S. oil production to record levels to make the United States is approaching more and more from the point of self-sufficiency, which threatens the existence of OPEC as a whole.

The station quoted by Bloomberg News report Citigroup in New York under the title Energy 2020 Independence that the production of the United States rose a record number of 790 thousand barrels per day during the past year, according to statistics the U.S. Energy Information Administration. As more of the shift towards the use of gas in the transport sector may lead to the destruction of the power of OPEC member states.

According to the report, the increase in production by Canada and Mexico Cisara march heading towards independence North American continent in the field of energy, and predicted that by mid-2013 the current van States on the Gulf of Mexico will stop importing oil sweet and light and replaces it with supplies it receives from other states U.S. such as North Dakota, Oklahoma, and Texas.

The specialized reports that the difference now between experts and analysts about the price of oil in 2013 depends mainly on increasing production in the United States and Canada adding that other differences depend on the look of these experts and analysts of economic growth and how optimistic solve problems budget in the United States and the economic situation in Europe .

She said some believe that the substantial increase in oil consumption in the exporting countries will significantly affect prices, especially during the summer and where electricity consumption increases.

Reported that current forecasts of international institutions and experts see that the oil price would be between 90 and 115 dollars a barrel as expects Foundation Raymond James Financial significant decline in oil prices as the average price of West Texas to $ 65 a barrel in 2013, while the price of Brent crude to 80 dollars. / end / / 22


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