the future of octg pipe

According to April 10, 2015 China Petrochemical News analysis, low oil prices will take a period of time. Petroleum and petrochemical industry will take a winter period and will predicted not improve in a short period.

In a long or medium term, global energy demand growth is relatively stable. The Outlook argues that, from 2025 to 2030, global energy demand average annual growth rate will be declined to the current 2% to 1% through economic structure transformation and policy guidance. The energy of demands of Europe, North America, Japan and South Korea tend to be stable or falling, however, new energy demand are mainly concentrated in Asia especially in China, India and Southeast Asia area, Africa, Western Asia and Latin America region. By 2030, India, Southeast Asia and Western Asia will become a new engine of global energy demand. Therefore, octg pipe will have a booming prospect in these countries and regions in the future.

For oil prices steep fall in the second half of 2014, Outlook thinks that this is the main reason why the international oil prices fell sharply exceeds the demand. While new supplying (2 million barrels) is mainly from United States, Libya and Iraq, and the new demand is weak.

The international oil price fluctuations not only reflects the total number of international oil supply and demand imbalance, but also is the transformation of global oil demand, to the east, supply pluralism and more centralized, and the direct result of United States the dense oil production soared. Meanwhile heralds the beginning of a new pattern of international oil and gas and the new game rules.

Outlook expects, the changes of the structure of supply and demand, will become the basic foundation for each country to develop long-term economic and social development plan, and are the important factors of the new normal for the national economy in the future years.