Friday, March 11, 2016

Diesel prices: the black scenario of the boss of Petroleum Industries – Le Figaro

According to the French Union of Petroleum Industries (UFIP), diesel may climb to 1.80 euros in 2030. The rise in oil prices is not the only factor in this scenario. Addition and tax increases are also largely responsible

While the refining margins improved in 2015 -. While prices oil tumbled to a beautiful rhythm – but the current situation does not presage a sustainable upturn. Duseux for Francis, president of the French Union of Petroleum Industries (UFIP), European refining will even remain under pressure. The leader was speaking at the annual press conference of the Ufip: it costed this difficult environment, indicating that excess production of refined products is expected to reach six million barrels per day (bpd) on the horizon 2020. in this perspective, Francis Duseux provides that “from 25 to 30 refineries shut somewhere in the world.” Currently, the refining overcapacity in Europe is estimated at around 15%

On the front of the oil price, the message of the Ufip is clear. The course should start rising from the end of 2016. Francis Duseux evokes a rebalancing of supply and demand which will result in “a significant price changes.” In the 2019-2020 horizon, the UFIP evokes an even stronger rise due to the current under-investment in the industry. In 18 months, the barrel has lost nearly 75% of its value. This collapse has led many manufacturers to freeze or postpone exploration and production projects.

The rise of upcoming courses will be reflected at the pump: when Francis Duseux raises the possibility for diesel climbing to 1.80 euro in 2030, it not only makes reference to the increase in gross but also to the addition and increased taxes. The leader warns against a phenomenon that will weigh seriously on “business competitiveness and the purchasing power of the French.”


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