The masterclass attracted over 200 delegates and showcased the holistic care model at King’s Dubai Parkinson’s Centre of Excellence
kt network11 hours ago
Global oil demand growth will accelerate next year as the world economy expands and will again be met by rising supplies from the United States and Canada, further eroding OPEC’s market share, the West’s energy watchdog said on Friday.
But the International Energy Agency (IEA) said in its monthly report that risks to oil production in several regions remained acute.
“Supply risks in the Middle East and North Africa, not least in Iraq and Libya, remain extraordinarily high,” the IEA said. “Oil prices remain historically high and there is no sign of a turning of the tide just yet.”
“Whether in crude or product markets, there is little room for complacency,” it added.
North Sea Brent crude oil hit a nine-month high above $115 a barrel in June as an insurgency by militantsswept across northwestern Iraq, taking control of large parts of the oil producing country and shutting down its largest refinery.
The oil market has weakened over the last month but remains nervous about further supply shocks. Brent was trading at around $108.20 a barrel by 0730 GMT on Friday.
Making its first forecasts for 2015 in a monthly report, the IEA which advises major consuming nations on energy policy, said it expected global oil demand to grow by 1.4 million barrels per day (bpd) next year, up from 1.2 million this year.
“Newly industrialised and emerging market economies are once again forecast to lead the gains,” it said.
It said it expected nonOPEC supply growth to average 1.2 million bpd next year, in line with expansions in 2013 and 2014.
“The US and Canada remain the mainstays for growth, but sources are expected to be more diverse than in 2014.”
The US shale oil boom has eroded the market share of the Organization of Petroleum Exporting Countries in recent years and the trend will likely continue next year, it said.
The IEA forecast demand for OPEC crude would edge down in 2015 to 29.8 million bpd, from 29.9 million this year. That is slightly below the level pumped by the group in June at just over 30 million bpd.
The masterclass attracted over 200 delegates and showcased the holistic care model at King’s Dubai Parkinson’s Centre of Excellence
kt network11 hours ago
Australia reached 317-3 with six overs to spare after bowling England out for 315 in 49.4 overs
cricket12 hours ago
BFM TV reported that Barnier has proposed conservative Senator Bruno Retailleau as interior minister
world12 hours ago
Sites contained approximately 150 launcher barrels that were ready to fire projectiles toward Israeli territory, it said in a statement
mena13 hours ago
Crowd control measures have been set up at Apple stores, as staff say walk-ins will not be entertained this year
uae13 hours ago
Polls show Americans remain deeply worried about the economy and inflation
americas13 hours ago
Advisor to the Minister for Maritime Transport Affairs at the UAE Ministry of Energy and Infrastructure, Hessa Al Malek is steering the sector towards inclusivity and innovation
lifestyle13 hours ago
Existing home sales dropped 2.5% last month from July
realty13 hours ago