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Hilbroy Advisory: IEA Urges Oil Producers to Boost Output
Hilbroy Advisory: IEA Urges Oil Producers to Boost Output
The Paris-based adviser points to "reassuring signs" that some producers, including Saudi Arabia, intend to boost output in the coming months to make up for lost Libyan oil.
Montreal,
Quebec,
Canada
(prbd.net)
24/06/2011
Montreal, Quebec, June 23rd, 2011– Hilbroy Advisory Inc. (DeutcheBörse: 2H0) Hilbroy Advisory Reports: The International Energy Agency has called on the Organization of Petroleum Exporting Countries to increase production in view of the damaging implications for the global economy if the organization fails to boost output.
In its latest Oil market report, the energy watchdog noted that although OPEC crude supply increased by 210,000 barrels per day in May, it remained down by 1.25 million bpd because of the Libyan crisis.
The Independent Online reported at the weekend that with global demand expected to hit 89.3 billion barrel per day over the year, driven by the energy thirst of China and India, the "call" on OPEC oil is set to rise by 400,000 bpd - revealing a "clear need" for the group to boost supply, according to the IEA.
A phalanx of OPEC members led by Saudi Arabia has mooted raising official production levels to help stabilize oil prices inflated by the global economy recovery and the sudden collapse of Libyan supply. But at a meeting in Vienna last week - which was afterwards denounced by the Saudi oil minister, Ali al-
Naimi, as "one of the worst meetings we've ever had" - an opposing faction including Iran and Venezuela vetoed the plan, sending Brent up by more than $2 in a single day.
The Paris-based adviser points to "reassuring signs" that some producers, including Saudi Arabia, intend to boost output in the coming months to make up for lost Libyan oil.
But the reports warned that without such "welcome relief the market will tighten still further, with all the damaging implications that resultant overheating in prices could hold for the global economy".
The IEA's executive director, Nobua Tanaka also reiterated the suggestion that the organization, which represented 28 oil consuming countries - could use its own 1.5 billion barrel stockpile to help ease any supply constraints. "We are ready to act at any time if necessary," Tanaka told a news conference in Russia.
About Hilbroy Advisory Inc.
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential.
Our specialists will customize a service package that includes reviewing, identifying and recommending a series of specific action and tasks that help their clients’ management decisions when seeking
• Go Public strategy,
• Debt and or equity financing
• Identify prospective investors
• Hire investor relations firm
• Cross listing decisions
• Planning road-shows and promotional campaigns.
Hilbroy Advisory has established numerous international relationships over the years with Broker Dealers, Hedge Funds, Institutional Investors, High net worth Investors as well as with investor relations firms and consultants. These relationships are made available to all Hilbroy clients and our team will manage the relationships from introduction to post financing activities.
Contact:
Jean François Amyot
HilbroyAdvisory, Inc.
1400 rue Begin
Montreal, QC H4R 1X1
info@hilbroyadvisory.com
www.hilbroyadvisory.com
Tel: 514-334-3131
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates", "believes", "could", "expects", "intends", "may", "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
About
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential.
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