15th International OPEC Summit 2014-Paris, France

History

15th International OPEC Summit 2014 was held in 11 April 2014 at Paris and France. OPEC means Organization of the Petroleum Exporting Countries.

In November 2014 International Energy Agency estimated that OPEC's effective capacity was 3.52 million barrels per day and this number would increase to peak in 2017 of 4.60 million barrels per day.

In 2014 Abdallah Salem El-Badri leadership at SP Libyan AJ. He has been the secretary general of OPEC and citizen of Libya and resides in Austria.

Abdallah Salem El-Badri says that It is clear that there is a specific focus on global oil supply, both now and in the future and the potential for production increase in both OPEC and non-OPEC countries.

He is talking about price and he said we also need to understand the cost of the marginal barrel, In OPEC's World Oil Outlook 2013 it is estimated that global upstream investment requirements between 2012 and 2035 are 5.2$trillion.