European efforts to avoid a "double dip" by the weight of international oil prices.

<P> International oil price highs on Thursday before the weekend after the fall. .Although the Gulf of Mexico oil spill took the latest news headlines, but the current European financial crisis threatens the fragile global economic recovery, the main factors affecting oil prices. .</ P> <P> last week, the main reason for high oil prices to the market's optimism on the interpretation of recent economic data. .At that time oil prices is the weekly inventory data, and the response of a story. .The report said the current government as part of the response by the oil spill, the U.S. Minerals Management Service Gulf of Mexico deep water drilling ban has been extended to the shallow waters. .But the report was later denied. .</ P> <P> international oil prices fell on Friday, the monthly price of WTI and Brent crude oil closed at $ 71.51 / barrel and $ 72.09 / barrel. .On Friday, weighed on the market sentiment of many other factors, foremost among which is the substantial depreciation of the euro. .Europe continued to deal with high debt and efforts to avoid drag on the global economy into a "double-dip recession." .</ P> <P> Tim Evans, analyst at Citi Futures Perspective in a report, said: "there is no obvious spot crude oil market shortage and therefore can not contend with the impact of further decline in the stock market." Evans said, .market under the guise of oil prices and the S & P 500 Index in the name of relevance to focus on the demand side has obviously overlooked the increase of supply, which means that, regardless of the stock market is up or down, oil prices could still fall further. .</ P> <P> Mexico last week, market participants consider carefully the impact of the spill. .Consulting firm Wood - Mackenzie, said the ban extension, regulatory tightening, and the potential impact of new practices of these factors together, about 8 million barrels of oil equivalent / day of production is likely to be postponed until 2011 after several years. .Wood - Mackenzie said: "We estimate that in Sham Shui Po in 2011 to 187.5 million barrels of oil equivalent output / day, which delayed the production account for about 4%." Wood - Mackenzie said that with the tightening of safety requirements for drilling and .extension of licensing hours lead to activity slowed, and extended all the exploration, evaluation and development phase of the cycle, to 2015-2016, the delay may increase oil production more than tripled. .Deutsche Bank analyst Adam in Washington? Adam Sieminski forecast for next year's production decline in the value of even larger. .He said: "Wood - Mackenzie estimates that about 8 million barrels of oil equivalent / day production deferred to the next few years, we believe that the new license and the current deep-water drilling moratorium, the output may be equivalent to deferred .double that figure to 16 million barrels / day. "</ P> <P> In addition, Barclays Capital said in a report:" If the ban can be lifted within the next 6-12 months, we do not think .will have a significant impact on oil prices. "Suisse (CreditSuisse) warned that such drilling delayed 3 years, by 2015 the global excess capacity may be about 600 million barrels from the current / fell down as low as 240 million barrels / day, ."At the same time oil prices rise." </ P> <P> U.S. Energy Information Administration (EIA) 5 月 25 released today, "International Energy Outlook 2010", said by China, India and other rapidly developing countries to promote the future .25 years, world energy consumption could grow by about 49%. .EIA said that the current period of 2035, hydropower and wind will be the fastest growing source of world energy supply, but the coal, oil and other fossil fuels will still meet more than 75% of global demand. .Deputy Director HowardGruenspecht EIA, said: "Renewable energy is the fastest growing source of energy, but its initial low base." </ P> <P> expected to present by 2035, China and other non-OECD (OECD) .countries will account for 87% of energy consumption growth. .EIA said that China and India are affected by the global recession, one of the smallest countries in the future the two countries will continue to lead the world economy and energy demand growth. .In 2007, China and India together accounted for about global energy consumption 20%, EIA report predicts that by 2035 energy consumption will increase between the two countries more than doubled, accounting for the proportion of the total global energy consumption will reach 30%. .It is predicted that by 2035 the U.S. accounted for the total global energy consumption will increase from 21% in 2007 down to about 16%. .</ P> <P> EIA expects average oil price in 2035 will reach 133 U.S. dollars / barrel, almost double than the current level of prices, consumers may need to re-adapt to triple-digit oil prices. .Past two years, extensive global recession hit demand and production of all energy resources. .EIA estimated that demand and consumption in 2035 will revert to pre-recession levels. .</ P>.