Published by the China petroleum group economic and technical institute compilation of the latest annual "oil and gas industry both at home and abroad development report released recently.

According to the report, at present, the global oil and gas industry entered a new period, easing the world oil market supply and demand situation is difficult to change, the international oil price stability, low expected before 2015, international oil prices will be low after high, overall level sharply down from 2014, west Texas intermediate crude oil annual price at $65 a barrel to $55, brent crude annual average price from $60 to $70 a barrel.

Expert analysis, points out that 2014 is the big bang, big oil and gas industry adjustment, big change.Is reshaping global oil and gas market pattern, unconventional oil and gas revolution pattern reversal of supply and demand, international oil prices fell sharply, the world's oil and gas industry reached a turning point in the new cycle.

Shift gear at the same time, China's oil consumption growth, the development of natural gas is less than expected, accelerating industry reform and marketization process, China's oil and gas market faces a major turning point.

Report forecasts that in 2015 the world's oil supply, demand, trade pattern will appear new changes.International oil prices fell sharply from the supply pattern, lead to oil companies to cut investment, inhibition of oil production will gradually appear. Bear the brunt of shale oil, oil sands, heavy oil, high cost of extraordinary capacity of the construction of the new investment. Bear the brunt of shale oil, oil sands, heavy oil, high cost of extraordinary capacity of the construction of the new investment. Low cost production capacity in the Middle East will get more market space, output growth potential is bigger.From the demand, the world economy to accelerate the recovery and the international oil prices remain low will stimulate the demand for oil.