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[rtl]History of edits:: 15/01/2017 23:02 • 146 visits readable[/rtl]
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{INTERNATIONAL: Euphrates News} executive director of the International Energy Agency, Fatih Birol, said on Sunday that the world oil prices will see more volatility in 2017 despite the fact that markets may regain its balance in the first half of the year if the implementation of production cuts pledged by Producers.
He said Birol in a press statement on Sunday : "I expect to see the market regain its balance in the first half of the year.
" But what I want to say is that we get into a period of increased volatility in themarket ... volatility is the name of the game. "
Oil prices fell on Friday ending the week on the decline amounted to three percent , with continuing uncertainty about the extent of OPEC 's cuts in light of low morale due to concerns about the durability of China 's second - largest oil consumer in the world economy after the biggest recorded drop in total exports since 2009
and agreed the Organization of the Petroleum exporting countries {OPEC} in November November 30 to cut crude oil production by 1.2 million barrels per day to 32.5 million barrels per day in the first six months of 2017 in addition to 558 thousand barrels per day pledged slashing independent producers such as Russia, Oman and Mexico.
He said Birol said OPEC agreement may contribute to high oil prices , but it will also encourage more production from the United States and other countries , adding that the rise of prices may weaken global demand for crude.
" I was expecting the return of shale oil producers in the United States to increase production this year."
he added that the trend of China 's oil production is about decline in recent times due to the falling prices might stop if the market has been strengthened. is over
http://alforatnews.com/modules/news/article.php?storyid=136874
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The International Energy Agency expects more volatility in oil prices in 2017
[/rtl][rtl]History of edits:: 15/01/2017 23:02 • 146 visits readable[/rtl]
{INTERNATIONAL: Euphrates News} executive director of the International Energy Agency, Fatih Birol, said on Sunday that the world oil prices will see more volatility in 2017 despite the fact that markets may regain its balance in the first half of the year if the implementation of production cuts pledged by Producers.
He said Birol in a press statement on Sunday : "I expect to see the market regain its balance in the first half of the year.
" But what I want to say is that we get into a period of increased volatility in themarket ... volatility is the name of the game. "
Oil prices fell on Friday ending the week on the decline amounted to three percent , with continuing uncertainty about the extent of OPEC 's cuts in light of low morale due to concerns about the durability of China 's second - largest oil consumer in the world economy after the biggest recorded drop in total exports since 2009
and agreed the Organization of the Petroleum exporting countries {OPEC} in November November 30 to cut crude oil production by 1.2 million barrels per day to 32.5 million barrels per day in the first six months of 2017 in addition to 558 thousand barrels per day pledged slashing independent producers such as Russia, Oman and Mexico.
He said Birol said OPEC agreement may contribute to high oil prices , but it will also encourage more production from the United States and other countries , adding that the rise of prices may weaken global demand for crude.
" I was expecting the return of shale oil producers in the United States to increase production this year."
he added that the trend of China 's oil production is about decline in recent times due to the falling prices might stop if the market has been strengthened. is over
http://alforatnews.com/modules/news/article.php?storyid=136874
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