Total: oil production reaches its peak

Christopher De Marjury executive chief of Total gas and oil Company warned that world will not be able to produce more than 89 million barrel of oil per day indicating to the high prices of areas like Canada and the political restrictions on states like Iran and Iraq.

Financial Times quoted De Marjury as saying that he withdraws his expectation about oil production for 2015 to decrease to less than 4 million barrel a day due to the current economic crisis.

De Marjury said that national oil companies which control the world oil and the independent producers, who have main role in creating new supplies, are restricted to their ability to finance investments in the current financial environment.

De Marjury warned as well that oil abundance resulted from sharp drop of demand will be for short period .