Bitumen price in Morocco
Bitumen price in Morocco
According to the latest report from a European group, bitumen price in Morocco and the country’s market will face a shortage of oil in the next decade,
so it must accelerate its use of energy that produces less carbon.
What changes do the researchers expect at the bitumen price in Morocco?
“Europe in the next decade may reduce the production of fossil fuels, including oil,
and thus increase energy prices sharply,” the Guardian reported, citing a report by the French researcher’s project.
They warn that before the world’s major economies have access to healthier energy sources,
oil production capacity is likely to peak and the EU is facing an energy shortage crisis,
so the design of an oil-free world should accelerate. According to the Guardian, the report’s data by
Rystad Energy in Norway shows that the oil products of Russia and other former Soviet states,
which supply more than 40 percent of the EU’s oil needs, have already entered the stage.
The Guardian also wrote in a report by the
French Environmental Institute that oil production in Africa, which meets more than 10 percent of the European Union’s needs,
will also decline rapidly in the next decade.
Good to know that the researchers also warn that the COVID 19
epidemic could lead to lower oil production in the 2020s as it reduces investment in new oil projects.
According to the Guardian,
major oil companies have cut funding for new projects next year by a quarter, about $ 40 billion,
as the Coronavirus epidemic pushed demand for oil to its lowest level in 25 years and oil prices Reduce drastically.
Respectively, the Guardian quoted a report by Raystad Energy as saying that the epidemic crisis could shift the peak demand for
oil from 2030 to 2027 and then plunge the oil market into a period of declining oil production.
“Even though oil demand is declining,
prices can rise sharply due to a lack of oil production capacity,” the paper quoted Per Magnus Nysveen,
head of analysis at the Norwegian company, as saying.
According to the Guardian, oil prices are to remain low for at least another two years as the global economy
recovers after the COVID 19 epidemic,
but by the middle of this decade, demand may rise sharply if demand exceeds production capacity.
