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Iran turned to new formats to sell its oil
8/23/2016 0:00
[rtl] BAGHDAD - morning ,
reported Mehr News Agency on Monday that Iranian Vice President Isaac Jhangeri told the ministries of oil and finance to begin using the new draft for a contract of Iranian oil in the new oil and gas deals, at a time when oil prices fell yesterday with questioning analysts to be able to talk to oil producers next month to rein in excess supply of oil. The Iranian Oil Minister Bijan Zanganeh had attended a parliamentary session on Sunday to respond to criticism of the Iranian oil contract. Zanganeh said last week that the Iranian oil contract would be needed a minor amendments but the final draft of the application will not require the approval of Parliament. That is likely to analysts , Brent crude fell to below $ 50 a barrel because the increase in crude oil prices in August, and more than twenty percent, seem exaggerated. And Brent crude fell 51 cents , or one percent , to $ 50.37 a barrel at 0057 GMT. The price of WTI US mediator 29 cents , or 0.6 percent ,to $ 48.23 a barrel. Traders said the rise in refined products exports from China hasalso put pressure on prices because this is seen as the latest sign of the continuing oversupply of fuel globally. China 's exports rose in July from diesel and gasoline 181.8 percent and 145.2 percent respectively compared with the same month last year to 1.53 million tons and 970 thousand tons each. Analysts questioned the high price of oil recently , saying that much of it was the result of long positions to cover operations.[/rtl]
http://www.alsabaah.iq/ArticleShow.aspx?ID=121924
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