BP economic department for CIS countries head: Oil prices increase faster than energy resources
Azerbaijan, Baku, July 6 / Trend E. Ismayilov /
Global oil production last year on average reduced by two million barrels a day, head of BP economic department for the CIS countries Vladimir Drebentsov said in Baku.
He said that the index on the OPEC countries reduced by 2.5 million barrels a day, but outside the cartel increased by 0.5 million barrels. The growth outside OPEC occurred mainly at the expense of countries such as Azerbaijan, Kazakhstan, Brazil, Russia and the U.S.
U.S oil production increased by 460 million barrels. About 390 million barrels fall to the Gulf of Mexico.
Drebentsov said that oil prices averaged $ 62 per barrel. At the end of last year they hit 70-75. This year the figure still amounts to $77 per barrel.
He said that this yearoil prices started to rise more rapidly as opposed to gas and coal.
Drebentsov said that last year in terms of financial and economic crisis, the total world energy consumption reduced by 1.2 percent. That figure could reach four percent, but it was at this level due to increased consumption in countries such as India and China.
Despite the fact that energy consumption reduced in developed countries, the growth hit 2.7 percent in developing countries.