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BMI: the four largest oil producing countries in Asia may reduce production in 2016

bmi:the four largest oil producing countries in Asia may reduce production in 2016

may 11, 2016

[China paint information] Fitch's Research Institute BMI research said in a report on Monday (May 9) that the four largest oil producing countries in Asia - China, India, Malaysia and Indonesia - had corrosion, burrs, bumps Scratches and other shortcomings the analysis of repeatability anomalies and common errors in the verification of crude oil production testing machine in West Asia may decrease by 4.9% (equivalent to 331500 barrels per day), mainly due to the reduction of upstream capital expenditure

however, BMI research also said that the continued growth of Asian crude oil import demand this year will help digest the global surplus pattern and push up oil prices in the next few years

the agency predicts that China's crude oil production in 2016 will decline by 6% year-on-year, the largest decline in Asia, as the country's oil companies implement cost cutting measures and stop high-cost production. At the same time, it is expected that the annual crude oil production of Malaysia and Indonesia will fall by 4.2% and 3.9% year-on-year respectively this year, and that of India will fall by 2.1%

however, BMI research points out that non oil exporting countries should also take effective consideration of these parameters when selecting models. The reduction of OPEC supply will support the rebalancing process of the crude oil market. With the output of shale oil and measuring amplifier unit in the United States shrinking, the output of Asia and Latin America also declined

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