Market Leader informed
Energy Experts report that according to International Energy Agency (IEA) the global demand for crude oil will have gained 18% by 2035.
In real terms the global consumption of crude oil will reach 99 million barrels a day. The situation is conditioned by the daily growing needs of the developing countries, with China being in the 1st place.
The average price of crude oil will grow from $60 (in 2009) to $113 per barrel, IEA experts say.
The demand for natural recourses grows every single day while their volumes inevitably decline. Taking into account all the above-mentioned, the forecast well may turn out to be true. However we shouldn’t forget that at the same time scientists around the world are engaged in searching and developing the ways and means to provide the humanity with alternative energy sources. For example, new no-break power stations are introduced to provide electricity generated by windmills. Scientists develop new types of engines, which do not consume fuel made from crude oil and is environmentally friendly (hydrogen engines etc).
That is why experts assure that there is no need to fear the forthcoming lack of certain recourses. Moreover, people should gradually abandon making use of the conventional energy sources and contribute their time to developing new, unique and may be constantly renewable ones.
In the meantime within the scope of wave a(C )/C of level W1 the price on“black gold” has overcome the important resistance level at $87.11 (the peal of a W3/4 wave). Experts from the Department of studying Masterforex-V trading system suppose that the next significant resistance levels are 99.84(123.6%) and 120.46(161.8% + 76.4%). In order to reverse the mid-term trend the price needs to get over the defensive MF pivot and to come out of the MF Sloping Channel as they act as the closest significant support levels.
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