OPEC: 2018 .. a promising year for the rise in oil prices globally
Baghdad / Range
The biggest business banks expected OPEC's decisions to absorb surplus in the oil market, and then the price of a barrel near $ 80, and Goldman Sachi and Morgan Stanley put a new ceiling on oil prices this year.
The most important business banks reviewed their forecasts based on the index of the absorption of oil surplus in the market, as the latter issued its new forecast intersected in a fundamental order; is the recovery of oil prices for its vitality. The study included Goldman Sachs Group, Morgan Stanley and JPMorgan Chase & Company, which revised their forecasts for an upward trend in the barrel of oil, considering that OPEC cuts would contribute to the elimination of the surplus in the market and hence to price stability.
OPEC, in coordination with some outside countries, especially Russia, agreed to reduce the production ceiling by 1.8 million barrels per day, of which 1.2 million barrels per day share of the Organization, and the agreement is valid until the end of 2018. What contributed to the impact on price levels, rates High commitment.
The Organization of the Petroleum Exporting Countries (OPEC) stressed that looking ahead, confirms that we are faced with the fact that the world needs all available energy sources, which requires increased investment in all resources in order to ensure adequate levels of supply in the future, Crude Oil.
According to a recent report by the International Organization, there are currently proven reserves of crude oil exceeding 1.2 trillion barrels, noting that it is also important to recognize the progress achieved by the oil resources and many positive aspects of all of humanity and have affected the lives of billions of Humans around the world are hundreds of years old.
The report said that without oil resources, humanity would not have been able to achieve economic growth and access to many forms of development and prosperity and the building of modern civilization.
The report added that "it is necessary for the oil industry to accelerate investment in order to reach the levels that provide and provide energy requirements for future generations," adding that the latest estimates confirm the need to inject new investments worth 10.5 trillion dollars in various fields of industry from now until the year 2040.
The "historic declaration" on cooperation between producers in and outside OPEC is in the second year of serious application after a great success achieved in the first year, the report pointed out, stressing the importance of an effective framework for permanent development in order to achieve market stability.
The price of Brent crude will reach $ 75 a barrel in the next three months and will rise to $ 82.50 in six months, analysts said. "The oil market is likely to be rebalanced within six months , A time closer than we expected. "
"The drop in excess stocks is accelerating by the end of 2017 due to demand growth, OPEC's heavy commitment, heavy maintenance and the collapse of Venezuelan production," they said.
Goldman joined other banks such as Morgan Stanley and JPMorgan Chase & Co., where economic growth and output cuts led by the Organization of the Petroleum Exporting Countries helped boost prices.
Morgan Stanley recently said Brent would reach $ 75 a barrel this year, while JPMorgan said it could rise to nearly $ 78 as oil markets tighten faster than expected.
Brent crude for April delivery was 52 cents at $ 69.41 a barrel in London after rising earlier to $ 69.67. The global index reached $ 75 in late 2014.
Global demand for oil rose 1.6 million barrels per day (bpd), or about 1.5 percent last year, and UBS said it was expected to grow by 1.3 million bpd this year.
OPEC, in coordination with some outside countries, especially Russia, agreed to reduce the production ceiling by 1.8 million barrels per day, of which 1.2 million barrels per day share of the Organization, and the agreement is valid until the end of 2018. What contributed to the impact on price levels, rates High commitment.
The Organization of the Petroleum Exporting Countries (OPEC) stressed that looking ahead, confirms that we are faced with the fact that the world needs all available energy sources, which requires increased investment in all resources in order to ensure adequate levels of supply in the future, Crude Oil.
According to a recent report by the International Organization, there are currently proven reserves of crude oil exceeding 1.2 trillion barrels, noting that it is also important to recognize the progress achieved by the oil resources and many positive aspects of all of humanity and have affected the lives of billions of Humans around the world are hundreds of years old.
The report said that without oil resources, humanity would not have been able to achieve economic growth and access to many forms of development and prosperity and the building of modern civilization.
The report added that "it is necessary for the oil industry to accelerate investment in order to reach the levels that provide and provide energy requirements for future generations," adding that the latest estimates confirm the need to inject new investments worth 10.5 trillion dollars in various fields of industry from now until the year 2040.
The "historic declaration" on cooperation between producers in and outside OPEC is in the second year of serious application after a great success achieved in the first year, the report pointed out, stressing the importance of an effective framework for permanent development in order to achieve market stability.
The price of Brent crude will reach $ 75 a barrel in the next three months and will rise to $ 82.50 in six months, analysts said. "The oil market is likely to be rebalanced within six months , A time closer than we expected. "
"The drop in excess stocks is accelerating by the end of 2017 due to demand growth, OPEC's heavy commitment, heavy maintenance and the collapse of Venezuelan production," they said.
Goldman joined other banks such as Morgan Stanley and JPMorgan Chase & Co., where economic growth and output cuts led by the Organization of the Petroleum Exporting Countries helped boost prices.
Morgan Stanley recently said Brent would reach $ 75 a barrel this year, while JPMorgan said it could rise to nearly $ 78 as oil markets tighten faster than expected.
Brent crude for April delivery was 52 cents at $ 69.41 a barrel in London after rising earlier to $ 69.67. The global index reached $ 75 in late 2014.
Global demand for oil rose 1.6 million barrels per day (bpd), or about 1.5 percent last year, and UBS said it was expected to grow by 1.3 million bpd this year.
http://almadapaper.net/ar/news/541949/%D8%A3%D9%88%D8%A8%D9%83-2018--%D8%B9%D8%A7%D9%85-%D9%85%D8%A8%D8%B4%D8%B1-%D8%A8%D8%A7%D8%B1%D8%AA%D9%81%D8%A7%D8%B9-%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D9%86%D9%81%D8%B7-
Today at 9:31 am by Rocky
» MM&C 5/9/24 The Federation of Chambers of Commerce and the European Union discuss cooperation to fin
Today at 9:27 am by Rocky
» MM&C 5/9/24 Customs, security and economic aspects
Today at 9:24 am by Rocky
» Union of Arab Banks: Iraq's environment encourages investment
Today at 6:57 am by Rocky
» Government advisor: Movement to recover bad debts for the benefit of the Iraqi Trade Bank
Today at 6:55 am by Rocky
» The International Development Bank announces the opening of its new branch in Erbil
Today at 6:52 am by Rocky
» Oil seeks to convert refinery products to “Euro 5”... high quality and environmentally friendly
Today at 6:50 am by Rocky
» Budget delay: the cry for help for paralyzed services and disrupted dreams
Today at 6:47 am by Rocky
» Oil: Completion of projects to improve the quality of petroleum products, and others are under imple
Today at 6:44 am by Rocky
» Chairman of the Securities Commission: 3 million shares, average daily trading volume
Today at 6:43 am by Rocky
» Tamim calls on the countries participating in the meetings of the Arab Administrative Development Or
Today at 6:41 am by Rocky
» Parliamentary Endowments: 39 thousand pilgrims, Iraq’s share, and waiving the religious obligation i
Today at 6:39 am by Rocky
» Washington refers to Iraqi legislation that “does not harm” his international presence, and Baghdad
Today at 6:34 am by Rocky
» Deputy: Extending the legislative term depends on sending the budget schedules
Today at 6:30 am by Rocky
» Parliamentary Legal: 88 draft laws on the parliamentary shelf
Today at 6:29 am by Rocky
» The head of the movement denies any Iraqi-American negotiations to remove the coalition
Today at 5:23 am by Rocky
» A deputy expects to resolve the issue of electing the Speaker of Parliament next week
Today at 5:22 am by Rocky
» Obtaining the approval of the Minister of Electricity to fill the energy shortage in Dhi Qar
Today at 5:21 am by Rocky
» Economist on the decline in dollar prices: My time and it will not reach its official price
Today at 5:20 am by Rocky
» The Iraqi Ministerial Council for National Security approves the 2024-2028 strategy
Today at 5:18 am by Rocky
» Mulla Bakhtiar: Nechirvan Barzani's visit to Iran melted the ice between Erbil and Tehran
Today at 5:17 am by Rocky
» Password "78"... Why did the Sudanese government's interrogations and noisy sessions decline?
Today at 5:16 am by Rocky
» JP Morgan forecasts an increase in the oil capacity of Iraq and other countries in 2025
Today at 5:15 am by Rocky
» Turkish Minister of Transport: The development road will cost $20 billion
Today at 5:13 am by Rocky
» The Supreme Committee for Reconstruction and Investment approves a package of strategic projects
Today at 5:12 am by Rocky
» Work: Preparing a unified national strategy to create job opportunities for youth
Today at 5:11 am by Rocky
» The Prime Minister's financial advisor reduces the risks of the budget deficit
Today at 5:10 am by Rocky
» Sudanese announces the signing of an agreement with Japan to finance small and medium enterprises in
Today at 5:09 am by Rocky
» Government Advisor: The Securities Commission represents the governance base for promoting financial
Today at 5:08 am by Rocky
» A unified national strategy to create job opportunities for youth
Today at 5:07 am by Rocky
» A one-week deadline to decide the position of Speaker of Parliament
Today at 5:06 am by Rocky
» Parliament: We coordinate with the competent regulatory authorities to examine medicines
Today at 5:04 am by Rocky
» The Commission suspends the Kurdistan Parliament's voting procedures
Today at 5:03 am by Rocky
» $100 million to localize the pharmaceutical industry
Today at 5:01 am by Rocky
» Increase in external remittances at the Central Bank
Today at 5:00 am by Rocky
» A government advisor reduces the risks of a budget deficit
Today at 4:54 am by Rocky
» Culture: We seek to invest in the stability of the country to advance the tourism sector
Today at 4:53 am by Rocky
» Integrity announces the results of a questionnaire on bribery in real estate registration department
Today at 4:50 am by Rocky
» Parliament comments on Sudanese plan to restructure the government apparatus: It needs radical refor
Today at 4:49 am by Rocky
» The dollar rises again against the Iraqi dinar in Baghdad
Today at 4:45 am by Rocky
» Politician: The government does not deal transparently with the issue of expelling the Americans
Today at 4:43 am by Rocky
» A government bank participating in an accounting project
Today at 4:42 am by Rocky
» Masrour Barzani: The Kurdistan Regional Government has implemented all its obligations and duties
Today at 4:41 am by Rocky
» French Consul: France strengthens relations with the Kurdistan Region
Today at 4:39 am by Rocky
» Studies Center: Sudanese faces the challenges of maintaining sustainable relations with the United S
Today at 4:38 am by Rocky
» “The absence of democracy is not possible.” The federal government remains silent on the postponemen
Today at 4:37 am by Rocky
» Taqadum Party: The absence of the Speaker of Parliament disrupted the general amnesty law
Today at 4:36 am by Rocky
» The file of oil export through Turkish territory is under the control of politicians
Today at 4:33 am by Rocky
» For the sake of the position of president and the budget schedules... there is a preference for exte
Today at 4:32 am by Rocky
» “If you bring the equipment, let’s begin.” Revealing the secrets of Erdogan’s visit to Iraq and the
Today at 4:31 am by Rocky
» Parliamentary moves to approve the Human Organ and Tissue Bank Law
Today at 4:29 am by Rocky
» Electricity embarks on an 11-axis plan to develop the energy sector
Today at 4:27 am by Rocky
» Al-Asadi announces work on legislating a law on occupational health and safety
Today at 4:26 am by Rocky
» Al-Rasheed: Increasing the amount of loans for restoration and maintenance of buildings to 50 millio
Today at 4:25 am by Rocky
» Under the chairmanship of Al-Sudani, Reconstruction and Investment agree on projects related to elec
Today at 4:24 am by Rocky
» Baghdad and Tehran.. New discussions regarding railway connectivity to transport visitors between th
Today at 4:23 am by Rocky
» Immigration: Our plan focuses on the voluntary return of displaced persons and rejecting their house
Today at 4:22 am by Rocky
» An Iraqi trade delegation in Iran to facilitate the export of agricultural crops to Iraq
Today at 4:21 am by Rocky
» Sudanese launches work on the Union Mills Project in Babil Governorate
Today at 4:19 am by Rocky
» Parliamentary demands to resolve the selection of the Speaker of Parliament next week: So far, there
Today at 4:18 am by Rocky
» Sudanese inaugurates a sugar production factory expansion project and three other factories
Today at 4:17 am by Rocky
» Al-Sudani confirms the unlimited support from the government to develop the success story in the pri
Today at 4:16 am by Rocky
» From Babylon... Al-Sudani announces the referral of the large Hilla sewerage project, phase two, to
Today at 4:15 am by Rocky
» Al-Sudani: The factories that opened in Babylon provide more than 4,000 job opportunities
Today at 4:14 am by Rocky
» A representative calls for the payment of lucrative compensation to farmers after the flooding of wh
Today at 4:13 am by Rocky
» Government Advisor: The Securities Commission represents the governance base for promoting financial
Today at 4:12 am by Rocky
» utube MM&C 5/7/24 Iraq Dinar- IQD Update - Regional Trade - A Progession of Reforms - A Global Bac
Yesterday at 6:53 am by Rocky
» MM&C The Iraqi Private Banks Association told NEWS: These are the results of the Prime Minister’s me
Yesterday at 6:52 am by Rocky
» After a break of more than 9 years.. the resumption of a government trade meeting between Iraq and A
Yesterday at 6:51 am by Rocky
» Deputy: The general amnesty law will be passed
Yesterday at 6:46 am by Rocky
» A change in the fuel smuggling map... “control” over the central ports and “laxity” in the north
Yesterday at 6:43 am by Rocky
» Al-Sudani takes three urgent decisions to block the wheat mafias in Iraq
Yesterday at 6:41 am by Rocky
» Electricity embarks on an 11-axis plan to develop the energy sector
Yesterday at 6:39 am by Rocky
» “Thug and smuggler.” A female representative talks about a crocodile in Parliament blackmailing exec
Yesterday at 6:37 am by Rocky
» Al-Sudani told the US State Department: Iraq is keen to strengthen its democratic system
Yesterday at 6:36 am by Rocky
» The Central Bank sells more than $275 million at auction today
Yesterday at 6:34 am by Rocky
» The Minister of Commerce stresses the observance of the Iraqi standard in the supply of goods
Yesterday at 6:33 am by Rocky
» The Iraqi Trade Bank announces its participation in the process of localizing the salaries of Kurdis
Yesterday at 6:32 am by Rocky
» Iraq adopts an advanced system to combat money laundering and terrorist financing
Yesterday at 5:25 am by Rocky
» Increase in Euphrates River levels due to Turkish water releases
Yesterday at 5:22 am by Rocky
» Demands the need to legislate the capital law
Yesterday at 5:21 am by Rocky
» Parliament decided to extend the legislative term by one month
Yesterday at 5:20 am by Rocky
» A bank participating in the process of localizing the salaries of employees in the region
Yesterday at 5:18 am by Rocky
» Parliamentary request to the Ministry of Finance regarding defense mobilization dues/document
Yesterday at 5:17 am by Rocky
» Dollar prices in Baghdad and Kurdistan today
Yesterday at 5:16 am by Rocky
» Al-Rasheed decides to increase the ceiling for granting “construction” loans to 75 million dinars
Yesterday at 5:14 am by Rocky
» A government plan to expand the construction of water harvesting dams
Yesterday at 5:12 am by Rocky
» Frozen or banned? An Iranian official reveals the fate of Tehran’s money in Baghdad
Yesterday at 5:11 am by Rocky
» The Iraqi Trade Bank participates in the process of localizing the salaries of Kurdistan Region empl
Yesterday at 5:10 am by Rocky
» Finance confirms the Iraqi government's desire to benefit from the expertise of French companies
Yesterday at 5:09 am by Rocky
» After targeting its branch in Kurdistan... Dana Gas announces a decrease in its profits to $38 milli
Yesterday at 5:08 am by Rocky
» A parliamentary understanding to extend the legislative term to approve the 2024 budget schedules
Yesterday at 5:08 am by Rocky
» Stopping the Commission’s procedures regarding the region’s elections
Yesterday at 5:06 am by Rocky
» Foreign oil companies violate Iraqi laws
Yesterday at 5:05 am by Rocky
» The position of Speaker of Parliament depends on the political agreement
Yesterday at 5:04 am by Rocky
» The Ministry of Finance decides to send the April salary to the Kurdistan region
Yesterday at 5:02 am by Rocky
» It did not reach the Council.. Parliament determines the mechanisms for dealing with the 2024 budget
Yesterday at 5:01 am by Rocky
» 88 projects awaiting resolution.. What will happen to the stalled laws in Parliament? - Urgent
Yesterday at 5:00 am by Rocky
» Al-Sudani receives the US Undersecretary of State
Yesterday at 4:59 am by Rocky