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OPEC" warns: oversupply will reach 720 thousand barrels in 2016
2/11/16
Oil prices rose after Iran said it was open to cooperation with Saudi Arabia, to offset raw some of the losses suffered in the previous session, when it fell 8 percent on concerns about demand and lower stocks.
And it remained low trading volumes in Asia, where the Chinese market is closed throughout the week on the occasion of the Lunar New Year holiday, while South Korea's stock market closed its doors, and closed its doors in Japan's stock market holiday on Thursday.
Crude prices have received support from the Iranian oil minister's remarks, in which he said that Tehran was ready to negotiate with Saudi Arabia on the current situation of global oil markets.
The price of the global measurement Brent crude futures maturity of dollars a month to $ 31.32 a barrel by 0850 GMT.
The Brent contract had plunged Tuesday to a fourth straight session, ending the day down to $ 2.56 a barrel, or about 7.8 percent.
US crude rose in futures for March delivery 54 cents to $ 28.48 a barrel. Crude futures fell 5.9 percent Tuesday to close lower by $ 1.75 per barrel.
For its part, it indicated the Organization of Petroleum Exporting Countries (OPEC) that the excess oil supply on the world market will rise this year than previously expected, at a time when Saudi Arabia is pumping and other members of the organization more oil to offset the decline in the production of non-Member States affected by the falling prices.
The «OPEC» in a monthly report yesterday, citing secondary sources that the organization pumped 32.33 million bpd in January, up 130 thousand barrels per day in December.
The increase in «OPEC» production at a time when the organization expects a slower pace of demand growth in 2016 is higher than the largest contraction slightly-than-expected supply from non-Organization.
It indicates «OPEC» report that the oversupply will reach 720 thousand barrels per day in 2016 if the organization continued pumping at a rate in January, up from 530 thousand barrels a day last month's report.
http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http%3A%2F%2Fwww.alqurtasnews.com%2Fnews%2F147757%2F%D8%A3%D9%88%D8%A8%D9%83-%D8%AA%D8%AD%D8%B0%D8%B1-%D9%81%D8%A7%D8%A6%D8%B6-%D8%A7%D9%84%D9%85%D8%B9%D8%B1%D9%88%D8%B6-%D8%B3%D9%8A%D8%A8%D9%84%D8%BA-720-%D8%A3%D9%84%D9%81-%D8%A8%D8%B1%D9%85%2Far&sandbox=1
2/11/16
Oil prices rose after Iran said it was open to cooperation with Saudi Arabia, to offset raw some of the losses suffered in the previous session, when it fell 8 percent on concerns about demand and lower stocks.
And it remained low trading volumes in Asia, where the Chinese market is closed throughout the week on the occasion of the Lunar New Year holiday, while South Korea's stock market closed its doors, and closed its doors in Japan's stock market holiday on Thursday.
Crude prices have received support from the Iranian oil minister's remarks, in which he said that Tehran was ready to negotiate with Saudi Arabia on the current situation of global oil markets.
The price of the global measurement Brent crude futures maturity of dollars a month to $ 31.32 a barrel by 0850 GMT.
The Brent contract had plunged Tuesday to a fourth straight session, ending the day down to $ 2.56 a barrel, or about 7.8 percent.
US crude rose in futures for March delivery 54 cents to $ 28.48 a barrel. Crude futures fell 5.9 percent Tuesday to close lower by $ 1.75 per barrel.
For its part, it indicated the Organization of Petroleum Exporting Countries (OPEC) that the excess oil supply on the world market will rise this year than previously expected, at a time when Saudi Arabia is pumping and other members of the organization more oil to offset the decline in the production of non-Member States affected by the falling prices.
The «OPEC» in a monthly report yesterday, citing secondary sources that the organization pumped 32.33 million bpd in January, up 130 thousand barrels per day in December.
The increase in «OPEC» production at a time when the organization expects a slower pace of demand growth in 2016 is higher than the largest contraction slightly-than-expected supply from non-Organization.
It indicates «OPEC» report that the oversupply will reach 720 thousand barrels per day in 2016 if the organization continued pumping at a rate in January, up from 530 thousand barrels a day last month's report.
http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http%3A%2F%2Fwww.alqurtasnews.com%2Fnews%2F147757%2F%D8%A3%D9%88%D8%A8%D9%83-%D8%AA%D8%AD%D8%B0%D8%B1-%D9%81%D8%A7%D8%A6%D8%B6-%D8%A7%D9%84%D9%85%D8%B9%D8%B1%D9%88%D8%B6-%D8%B3%D9%8A%D8%A8%D9%84%D8%BA-720-%D8%A3%D9%84%D9%81-%D8%A8%D8%B1%D9%85%2Far&sandbox=1
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