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Page added on December 9, 2020

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Russia said record global oil demand has already passed

Consumption

The days of peak oil consumption for the global economy may be over and the trend could affect Russia’s budget revenue, the country’s deputy finance minister, Vladimir Kolychev, warned.

“The peak of consumption must have already passed,” Kolichev told Bloomberg in a recent interview. The official said there is a long-term risk that hydrocarbon revenue may go below previous forecasts.

According to Kolichev, the Finance Ministry is currently looking at different levels of demand at different levels.

In an earlier report, Russia’s principal financial regulator, the Central Bank of Russia, outlined four basic scenarios for Russia’s economic development. Although the forecast covered the state of the national economy over the next three years, it said that in the worst case scenario (if Kovid-19 wreaks havoc worldwide), the price for Russia’s Ursa oil brand could be $ 25 in 2021. Per barrel, about 50 percent less than its current price, and will reach only $ 35 per barrel in 2023.

Earlier this month, Russian President Vladimir Putin said that global demand for oil would grow by just one percent over the next five years, before it began to weaken by 0.1 percent per year.

The Russian economy is gradually reducing its dependence on oil revenues, the president previously emphasized. Oil prices no longer “Fragile” Impact on the national budget, Putin said in September, promising that hydrocarbon revenue would account for about a third of the budget next year.

The epidemic hit the energy market hard in the first months of 2020, as border closures and lockdowns halted global travel and production almost completely. The commodity took a historic loss earlier this year, when a US oil futures contract went into negative territory and Brent trading hit about $ 20 a barrel. Crude prices have skyrocketed since then, thanks to a global effort for production, mainly due to the cap and Russia-led oil exporters introduced by members of the Organization of Petroleum Exporting Countries (OPEC).

RT



20 Comments on "Russia said record global oil demand has already passed"

  1. FamousDrScanlon on Wed, 9th Dec 2020 5:38 pm 

    Russia said?

    Wow I wasn’t aware you could quote 144 million people all at once.

    Top quality journalism here in the endtimes.

  2. zero juan on Wed, 9th Dec 2020 5:55 pm 

    The selfish asshole JuanP and his multiple DrDumbass comments. What a prick!

    FamousDrScanlon said Russia said? Wow I wasn’t aware you could q…

    FamousDrScanlon said Covid-19 Is Feeding the GOP Addiction to Conspirac…

    FamousDrScanlon said Ba ha ha This Oregon doctor who refused to wear m…

    FamousDrScanlon said California has its most coronavirus deaths in a si…

    FamousDrScanlon said Whatever you say magic Mormon underwear mak. Mak d…

    FamousDrScanlon said ‘What comes after America?’ The hangov…

    JuanP said Duncan, WTF, Biden is going down in a fraudulent e…

  3. TRUMP = LOSER on Wed, 9th Dec 2020 8:18 pm 

    Trump and his cult followers shall henceforth ALWAYS be labeled as LOSERS.

    And it wasn’t even close.

    Biden’s margin of victory was greater than all of the votes Trump received in Utah + Montana + Idaho + Wyoming + North Dakota + South Dakota + Iowa + Kansas + Oklahoma + Arkansas + Colorado.

    TRUMP = LOSER

  4. zero juan on Wed, 9th Dec 2020 8:33 pm 

    Ppeee, real green does not come here anymore mainly because of you and your mental illness

    TRUMP = LOSER said Trump and his cult followers shall henceforth ALWA…

    REAL Green said An ‘ol fashioned brief cornholing or even a…

    FamousDrScanlon said Covidiots luv dick cheese. Apparently they’l…

  5. REAL Green on Wed, 9th Dec 2020 10:15 pm 

    You never shoulda cummed in widdle Davy’s mouth Ppeee. Now he’s gone full mental retard.

    (Don’t let him no I said so. He gets REAL mad)

  6. zero juan on Wed, 9th Dec 2020 10:34 pm 

    You fucked with the wrong schizophrenic REAL Green. Your fuckass is toasted. Trouble is. Were not sure what one of are two brain cells is you? Or me?

    cuntface

  7. REAL Green on Wed, 9th Dec 2020 10:40 pm 

    Yummy, yummy, yummy, I got peepee’s cum in my tummy

  8. zero juan on Wed, 9th Dec 2020 11:00 pm 

    REAL Green does not cum here anymore Ppeeee. Cus he no’s he’ll get his widdle Dumb ass kicked.

    stupid luantic cuntface fuckwak

    LMFDAO!!

  9. pat on Thu, 10th Dec 2020 9:41 am 

    The global Oil is rocketing to $100. OIL can beat all time HIGH of $150 soon. All bullshit is being spread of oil far from reality. Oil going to be most high prdmium on earth, $150-200 range will be new normal.

  10. pat on Thu, 10th Dec 2020 9:45 am 

    Shell Nigeria Employees Vandalize Oil Pipelines

  11. zero juan on Thu, 10th Dec 2020 9:45 am 

    Pat is an outed JuanPpeee sock, obviously

    pat said The global Oil is rocketing to $100. OIL can beat…

  12. pat on Thu, 10th Dec 2020 9:49 am 

    The cheap conventional, high grade oil world enjoyed was exhausted decades ago, with high depletion, record world oil consumption(90mbpd), highly volatile oil pfoducing nations to rocket oil to new HIGH of $150-200

  13. Duncan Idaho on Thu, 10th Dec 2020 10:05 am 

    Biden To Have Entire WH East And West Wings Showered With Disinfectant Right After Trump Leaves

    https://talkingpointsmemo.com/news/biden-to-have-entire-wh-east-and-west-wings-showered-with-disinfectant-right-after-trump-leaves

    The major problem will be the smell– going to take quite a while to get rid of that.

  14. Duncan Idaho on Thu, 10th Dec 2020 10:22 am 

    ” They have lost the last 7 of 8 popular votes. The one they won was when the country was in the middle of the Iraq war and the man who won it left office with a 28% approval rating. Back when there were racists in both parties and liberal in both parties — and the GOP wasn’t so far right they were falling off the edge of the world — it was possible for both parties to have an urban-rural coalition. That is no longer true. We are a different country. And these people simply cannot accept the truth.”

  15. Duncan Idaho on Thu, 10th Dec 2020 10:25 am 

    “Final figure is actually 71% of GDP generated in counties Biden won, once Nassau (NY) finished counting. Plus Biden won 91/100 largest counties in US, more even than HRC 16 or Obama 12. Clinton’s counties generated 64% of GDP. High-output diverse metro US loudly said no to Trump”

  16. ROGER on Thu, 10th Dec 2020 7:07 pm 

    The Russian is half right — Russia’s PRODUCTION has peaked (world peaked in November 2018). Rest is BS.

    My friend, truth is scorned here:

    pat on Thu, 10th Dec 2020 9:41 am

    The global Oil is rocketing to $100. OIL can beat all time HIGH of $150 soon. All bullshit is being spread of oil far from reality. Oil going to be most high prdmium on earth, $150-200 range will be new normal.

  17. zero juan on Thu, 10th Dec 2020 7:12 pm 

    The fuck has a new sock

    ROGER said The Russian is half right — Russia’s PRODUCTION ha…

    FamousDrScanlon said I’m a doctor I am mighty I have a pet stalke…

    Diaper Don said The Grifter and chief will drag this out as long a…

  18. Cloggie on Mon, 14th Dec 2020 8:26 am 

    Germany in 2020: 46% renewable electricity, up from 42.5% last year, mostly due to Corona. New installation of renewable capacity is stalling because of NIMBYs. The government is working on regulations to counter that development.

    https://www.spiegel.de/wirtschaft/oekostrom-deckt-2020-fast-die-haelfte-des-stromverbrauchs-ab-a-ed879a6c-cb60-4145-a4f9-6bfcf7d6052d

  19. Cloggie on Mon, 14th Dec 2020 8:30 am 

    In France the tram is making a successful comeback, much in contrast to Germany:

    https://www.spiegel.de/auto/strassenbahn-warum-es-in-deutschland-tram-neubauten-schwer-haben-a-131d3393-3357-4148-9cda-4aab9d871b70

    The tram is one of the cheapest and most efficient and cleanest ways of public transport in the city:

    1 km tram costs 20 million Euro
    1 km Metro costs 100-250 million Euro

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