INDIA,CHINA REPLACE THE AMERICA'S POSITION

New Delhi, March 7, (way2newstv.com)

According to the International Energy Agency (IEA), global oil trade routes are in the east as China and India replace America in oil imported countries. According to the Oil 2018 report of the company, global oil trade routes are moving towards the east. The Five Years Market Analysis, Estimated Assessment, also reviewed the issues related to crude oil in the background of the rapidly rising crude oil production in America. Trading streams are becoming more productive in America. Worldwide crude oil refining capacity is growing. There is an increase in the supply of oil in the world due to growth in crude oil production in America, Brazil, Canada and Norway. These supplies are expected to meet the oil demand in the world until the end of the year 2020. But then, more investment is required to increase production. 

INDIA,CHINA REPLACE THE AMERICA'S POSITION

In next three years, only one percent can be achieved in America, with 80 per cent of global demand growth. Canada, Brazil and Norway meet the remaining 20 percent demand. Additional investments are needed after 2020 to boost growth in supply. The oil industry has witnessed an unprecedented deficit in investment in 2015-16. IEA estimates that in 2017 and 2018, there is no cost on raw oil production outside America. "America is going to have a stamp on the global oil market in the next five years," said IEA Executive Director Fatih  Birol. "But, as we have repeatedly noted, the internationally weak investment scene is an anxiety factor. More investments are needed to replace the deflationary oil fields deficit. Around 30 million barrels per day (equivalent to the size of the North Sea). The world must replace it. Strong demand is also to ensure supplies to cope with growth, "he said.