(Hong Kong) The International Energy Agency (IEA) said on Thursday (December 13) that in view of the decline in production in countries such as Iran and Venezuela, the actual reduction in production by the Organization of Petroleum Exporting Countries (OPEC) may be twice the planned 800,000. Barrel/day.
Crude oil production in Venezuela is still declining due to the severe economic crisis. As the United States gradually tightens its sanctions against Iran, the country's crude oil production will continue to decline.
According to the IEA monthly report, OPEC crude oil production in the first quarter of 2019 may be reduced by 1.4 million barrels per day to 31.5 million barrels per day in October this year, and it is likely to fall further to 31.2 million barrels per day in the second quarter.
The IEA expects that OPEC's production cuts will start in two parts next year, which are the planned 800,000 barrels/day reduction and the 600,000 barrels/day decline in Iran and Venezuela production. After entering the second quarter, the two domestically produced The decline may increase to 900,000 barrels per day.
Market analysts said that if the IEA's expectations come true, global crude oil inventories will shrink sharply in the second quarter of next year, helping the oil price to rebound significantly.
PP fiber woven tape T 500
â… System description:
The XUNDA-T 500 series is cold applied tape for both metallic pipelines and waterproofing works against outdoor bad weathers .
The PP fiber woven tape shall be applied after the Liquid adhesive by hand or with a wrapping machine.
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Waterproofing- |
Pipelines protection |
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-Waterproofing membrane for basements,substructures and flat deck applications. plazas, bridge, vehicular traffic structures, or parking decks overlaid with an asphalt concrete wearing course. |
_ Weld joints |
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