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Oil undervaluation time is about to expire
6/18/2016 0:00
[rtl] Translation - Anis al - Saffar / Keith Johnson
over the last two years there has been a flood of crude oil prices make the trending down, which upset the latest in the balance sheets of companies and inflicted chaos in the budgets of oil - dependent countries, from Russia to Iraq. However, this situation will change takes under the double impact of the high demand and the hardship suffered by the oil facilities, especially interruptions and unplanned interruptions in regions such as Canada, Nigeria and Libya. We expect , therefore , that prices start to rise as the result of all this. Equilibrium in last Tuesday , the International Energy Agency announced thatit expects the oil market remains in balance for the remainder of the current year, meaning that the world will keep pumping quantities of oil equivalent consumed by them almost, and this would raise prices upwards. currently oil is sold at a price swings within the range of $ 50 a barrel, this is equal to twice the lower rate reached earlier this year, though the oil market has been approached from a natural point of balance between supply and demand, the credit for that It has nothing to do with senior producers in «OPEC» who continue pumping profusely despite the refraction prices (particularly Saudi Arabia). supply disruption instead on the market to thank the disruption of world oil supplies , which amounted during the month of May , its highest level in five years. Part of the reason behind the decline in production was witnessed by the forests of Canada ,which spread to some oil - producing areas in the state of Alberta Vooagaftha working fires. There are other areas of oil producers also took reeling. In the Niger Delta, located in the southern part of Nigeria, it activates a new generation of militants , fighters who deliberately targeting crude production facilities there. In Libya , the political disintegration effects continue to keep oil production and export levels within is not equivalent to a fraction of what it was before the war. Producers other senior as well as the faces, especially Venezuela, economic and political harsh pressure, many energy experts estimate that Venezuela 's exports will face a severe setback for later this year.Amounts missing those interruptions, attacks and fires combined taken out of the market about 3.7 million barrels of oil per day, this has helped to lift oil prices to the maximum limits within a year. throughout the past two years the world was flooded with oil to thepoint of him does not mean so much the actual absence of Libyan oil industry , forexample , and viewed with indifference to what the militants are doing in Nigeria.However, those interruptions today are able to make a stronger fluctuations in a market suffering from hardship. Awakening market says «Richard Mallinson», an analyst at «Energy Aspect» consulting firm in London: «We have yet to go back to the situation inwhich it was a small sneeze at processing adds to the price two dollars, but the sure thing is that the market is taking wakes up and pay attention to the political geography again. if not forest fires in Canada, which resulted in a peak borrowed from taking out more than one million barrels of production a day, had taken Balkhmud gradually the stops in Nigeria and Libya is destined to last for a longer period, according to the international energy agency. Those stops did what unwilling to OPEC about to do a narrow little tap. Raw substrates says «Robert McNally» founder and president of«Rabidan group» Consulting for Energy: «This stream of interruptions helped to develop substrates stabilized by crude prices after a long fluctuation and hastily return balance between supply and demand in the world. » Nigeria is a particular concern for two reasons, the first is the extent to which the production disorder there (where he led acts of sabotage and attacks to disrupt production by about a million barrels a day in themonth of May) and the second is that the new generation of militants guitarist as it looks to negotiate with the government , as was the previous one did. Mallinson says that Nigeria is facing what he calls the possibility of prolonged exposure to turmoil term similar to those experienced during the period (2006 - 2009) when he was a hard -liners targeting foreign oil companies in Nigeria are systematically. High demand these cuts may not necessarily be a cause for concern in itself, or to transfer it were not well during the past two years, but with the return of oil demand to rise (which is saying is especially true for India as well as the largest consumers of oil in the world, namely China and the United States) is no longer there in the system of slack allows remedy thesituation if what is the estimated course came out. ratifying this case in particular , the production exerted by Saudi Arabia unequivocally policy. The kingdom still pumping oil atlevels comparable to standard border - producing 10.2 million barrels a day. But themeaning of this is that Saudi Arabia has lost a large part of its energy on the events «surge» in oil production when it wants to meet the global demand, because they are themore lifted pumping on a daily basis fell spare capacity at the «OPEC». Since the energy reserve production is essentially a way to absorb the shocks that occur on theglobal oil market, the world may be coming soon to ride through many bumps. Says McNally: « As long as the spare capacity to Saudi Arabia and sessile Thus, prices will remain strongly fluctuate are the other, flying at high heights in response to outages and interruptions or even with the mere appearance of signals on the likelihood ofoccurrence. » * Forn for Pulse magazine[/rtl]
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