Oil experts see the movement of world oil prices between 75 and $ 85 as a natural matter

Oil experts said that the movement of world oil prices are currently between 75 and 85 dollars per barrel is a natural result of the changes that occur daily on the global stockpile of crude oil and petroleum products, which in turn reflects the movement of demand for oil supply in world markets. They said in separate interviews to Kuwait News Agency (KUNA) today that this level of prices is "good" and reflects the stability in the global oil market in light of current economic conditions and the state of cautious optimism prevails circles near the completion of an economic crisis that gripped the world economy and offered its markets and its financial institutions to the largest crisis in the world. The oil price topped $ 70 for the first time last October since the beginning of this year, specifically since the world economy had started to get into the recovery phase and out of recession and stagnation. The experts said the global oil price levels reached in mid-2008 to about $ 147 a barrel was the basic reality of speculation based on geopolitical concerns, particularly in the Middle East. They said economic growth in China and India and other emerging markets play an important role in rising global oil prices to the levels mentioned the expectation that this growth also plays a role in increasing global demand for oil in the light of the increasing needs of oil and its derivatives, increased reliance in developing Asian countries. They speculated that make the global demand for oil in the foreseeable future with the global economic recovery, while supply is affected by the extent of implementation of projects in the development of capacities at all levels of the oil industry from production, transport and refining and marketing. The National Bank of Kuwait in his report on world oil markets and pointed to a recently published set of factors encouraging and supporting a strong recovery in demand for oil, including industrial production index, which rose in September in China, India and the corporate earnings that exceeded expectations in the third quarter of this year, especially in the United States. He added that with the growing confidence in economic activity in the short term, it was expected to raise the rates of growth of world demand for oil and the International Energy Agency, which raised the estimates of the expected growth rate for world oil demand for 2010 of 150 thousand barrels per day to 1.4 million barrels a day to become rate The expected annual growth 1.7 percent. In contrast, OPEC and the Center for Global Energy Studies expect growth next year between 700 to 800 thousand barrels per day.m.e