empty
 
 

2015.10.1200:57:09UTC+00Qatar's Energy Minister Says Oil Prices Have Bottomed Out

Mohammed Al Sada, Qatar's energy minister, said the prices of oil globally have bottomed out, with recovery signs seen in 2016.

In an e-mailed statement on Sunday, Al Sada said growth in non-OPEC crude oil supple slowed this year, and will likely stay flat or turn negative in the next.

He added that the low oil prices have triggered companies to lower their capital expenditure by nearly 20% this year from $650 billion in 2014.

Global pricing benchmark Brent crude has slipped 8.2% this year and fell 41% in the last 12 months.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback