Higher oil prices mean more expensive petrol…

Higher oil prices mean more expensive petrol…

In the next few months the price of the oil will go up due to the lack of investment over the previous period in the search for new oil deposits due to the artificial low price of crude in the previous two years. Of course, this will benefit those involved in the production and processing of petroleum and petroleum products and in no case the consumers internationally.

The risk of the lack of new investment in research has been affected by at least three years ago by the competent bodies and the special analysts.

Crude crude prices, however, as they were at a particularly low level, prevented large companies from making openings of all kinds.

Over the last four years, the projects that were judged to have failed to yield immediate results were abandoned, resulting in an annual reduction of investment from 700 billion to 400 billion dollars.

The numbers speak for themselves, as American Exxon Mobil and Chevron, Dutch Shell, French Total and British BP, which fed the world market with 15 million barrels a day and channeled 14 billion dollars, “fell” automatically to 9 billion dollars in a quarter.

The new warning comes in between the U.S. and the Bank of America Merill Lynch special analysts, who are warning of an impending rise in the price of crude to $ 120 a barrel due to Donald Trump’s American leadership choosing to block Iran from the oil market and generally impose a new round of trade sanctions in the country by the end of the year.

Iran, however, and the quantities of oil it supplies to the world market are, as argued, very difficult to be replaced, despite initiative taken at the same time.

The results are estimated to be detrimental to the exception of India and South Korea from strict adherence to the “punitive” policy against Tehran or Saudi Arabia’s decision to increase production by 2 million barrels a day to ensure an equilibrium.

It looks like we, the consumers will feel the difference… … IBNA