Petroleum demand is expected to grow by the end of 2000 by 2.3% to 78.8 million barrels per day

/IRBIS, March 03, 00/ - PRIME TASS informs about Friday's statement of Hans Kausch, officer of the International Power Agency at the agency's seminar in Moscow. As he said, petroleum demand is expected to grow by the end of 2000 to 78.8 million barrels per day. He also said that there is disproportion between petroleum demand and supply - the first equals 77 millions barrel/day, the second - 75 millions barrel/day. This disproportion while has been covered at the expense of stocks in the industrialized countries. However, as he said, if OPEK will not increase petroleum export it can result in 4 quarter in catastrophe". In his opinion, in connection with rise in petroleum price, investments in oil extracting will increase this year by 11% in comparison with 21% fall in 1999. As he belive, production of petroleum by Russia in 2000 will make 6.21 million barrels per day, petroleum export in non-CIS countries will make 3.2 million barrels per day. The general director of International oil and gas Centre Moscow Instotut of Foreign Relations, professor Khartucov has declared PRAJM-TASS, that, on his estimation, Russia will extract in this year 6.3-6.4 million barrels of petroleum per day.