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Experts: freezing production will raise the price of oil to $ 80

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rocky
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Experts: freezing production will raise the price of oil to $ 80

Post by rocky on Sun 21 Feb 2016, 4:15 pm

[size=36]Experts: freezing production will raise the price of oil to $ 80[/size]


He specialists in the oil regard, on Saturday, that the success of the Doha meeting and acceptance of Iran to freeze its output will increase oil prices to nearly $ 80, while Benoit Iraq needs to develop its infrastructure to accommodate the increase in production.
A source in the Iraqi Oil Ministry said Iraq ready to freeze oil production at certain rates to support oil prices, among that this issue is related to the agreement of the oil producing countries of OPEC and outside.
the oil expert Hamza Jeweler in an interview for the “long” that “Iraq is one of the largest affected by the decline in oil prices that raised more than once plans to reduce OPEC production to support prices. “
He added that” the quantities exported oil by Iraq for the month of January amounted to 3200000 million barrels of central and southern fields. “
He said the jeweler said,” Russia is the biggest loser because of low global oil prices, which leads the world production of oil and gas, which are related to prices directly proportional to the oil market, which caused her great losses in almost a year and a half. “
He said the” quartet meeting in Doha is considered politically – economically par excellence, where nations gathered to exchange political concessions around the area is reflected on the oil economy and raises price of a barrel to $ 80 within a period not exceeding two months. “
He added that” Kuwait and Saudi Arabia, the UAE has the largest share of global output and could through it franchise oil prices control to support the surplus from the market and of 5%. “
He noted that” the completion of a small agreement opportunities because conflicts of interests of nations gathered in addition to Iran’s refusal to freeze its output little originally after the lifting of economic sanctions against it. “
the Iranian oil official detect oil meeting will include representatives of Iraq and Venezuela in Tehran to discuss the situation of the oil market.
he said the jeweler that” Iraq needs to develop its infrastructure in parallel with the increase developments in the production and derived from service contracts with foreign companies, estimated at 100 to 300 000 barrels a day. “
He added that” freeze increases in the amount of exports produced by OPEC countries and nations Liberal outside the cartel for a period ranging from one year to two years could raise the price of oil and come back stability again. “
a source in the Iraqi oil Ministry on Tuesday (February 16, 2016), in a statement published on the (Reuters) seen by the (range), said that” Iraq is ready to freeze its oil production when the rates of the month of January if an agreement is reached between the members of the OPEC countries and producing countries other than outside OPEC to support oil prices. “
said Director of international Affairs, national Iranian oil company Mohsen Gamsara in remarks to the site Sputnik News Russian and I followed (range),” the representatives of Venezuela, Iran and Iraq will hold a meeting tomorrow in Tehran to discuss the oil market situation. ” .
since the collapse of oil prices in the first half of January, officials from OPEC and non-OPEC group seeks to hold meetings to discuss the issue of the deterioration of oil prices, which have caused huge financial problems for some countries.
he said oil Minister Adel Abdul Mahdi, on Thursday (February 18, 2016) talks will continue between Member States and non-members of the Organization of the Petroleum exporting countries (OPEC) in order to strengthen prices.
came the minister’s remarks, a day after a meeting aimed at trying to reach a global agreement to freeze production levels but ended without outcome is crucial.
in a first reaction to the Iraqi Minister since the meeting of the ministers of Iran, Iraq, Qatar, Venezuela’s oil in Tehran on Wednesday, Abdul-Mahdi said he was “imperative for the producing countries to find solutions to return prices to their levels of” natural “and that the rapprochement between OPEC and producers outside a step in the right direction.”
the findings Arabia and Russia, two of the top exporters in the world to the center of a sudden solution earlier this week was to freeze production at January levels approaching the highest level ever provided to join the other producers to agree.
he Producers Gulf of OPEC are Qatar, Kuwait and the UAE United Arab addition to Venezuela, they will join the Saudi Russian agreement, which aims to reduce the growing glut of supply and contribute to the recovery of prices from their lowest levels in more than ten years.
However, Iran remains the biggest obstacle that stands in the face of the first agreement since 2001 between producers inside OPEC and outside as pledged substantial increases in production to regain market share lost during the period of sanctions. The sanctions were lifted last month after an agreement with the international powers allowed Tehran to resume selling oil freely on world markets


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    Current date/time is Mon 05 Dec 2016, 8:33 am