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Crude oil price is declining because of fears of an oversupply, Saudi Arabia and Russia sign an agre

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rocky
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Crude oil price is declining because of fears of an oversupply, Saudi Arabia and Russia sign an agre

Post by rocky on Tue 06 Sep 2016, 3:34 am

Crude oil price is declining because of fears of an oversupply, Saudi Arabia and Russia sign an agreement to curb production


 Reuters / New York-Riyadh-Tehran 

It landed crude oil prices, on Monday, in Asia ,down 3 percent from the gains made ​​in the previous session amid concern the abundance of the world 'ssupply of oil. The price of Brent crude for delivery in November 18 cents to $ 46.65 a barrel by 2245 GMT , on Sunday. 
The global Brent crude has risen at the close on Friday of $ 1.38 after a report weak for jobs in the United States led to a falling dollar. And it helped him report also said that Russian President Vladimir Putin supports OPEC 's attempts to implement the freeze of production with other producers. 
The price of WTI US mediator for October delivery / October 18 cents to $ 44.26 a barrel after rising at theclose of Friday 's $ 1.28. 
It is likely to be dealings in US crude limited on Monday due to the Labor day holiday in the United States. 
in the same context , signed Saudi Arabia and Russia, signed an agreement for cooperation in the oil market ,including curbing production which caused the price rise strongly in the hope that the biggest hike was slapped works in the world together to address the glut of global supply of crude. 
Saudi Arabia 's Minister of energy and Russia 's agreement in China and signed on the sidelines of the Group of twenty summit after a meeting between Russian President Vladimir Putin and Crown Saudi Crown Prince Mohammed bin Salman. 
he said Russian energy Minister Alexander Novak said the two countries are heading towards the strategic partnership in the field of energy , although the high level of trust will allow them to face global challenges. 
will be held Organization of Petroleum exporting countries (OPEC) informal talks in Algeria later this month is expected to meet formally in Vienna in November next year. 
He called a number of OPEC producers to install production to curb oversupply of crude also hinted Arabia thelargest producer in the Organization to its willingness to cooperate at a time when it is facing pressure on its budget and seek to put part of Aramco 's state - owned oil producer in the stock market. Any agreement between OPEC and Russia is a member of the organization will be the first of its kind in the 15 years since that Moscow agreed to cut production with the organization at the beginning of the millennium , but Russia has never committed to its promises. 
In April / April Russia was ready to install the production with OPEC , but the talks collapsed after Riyadh hassaid it will not accept a deal unless attended by Iran 's third - largest crude producer in OPEC. Putin said last week that a new agreement on oil production may involve some compromises in regards to the Iranian production. 
For his part , a senior official said the National Iranian Oil Company said that his country was ready to increase its crude oil production to four million barrels per day within two months according to the demand in the market. 
he said Syed Mohsin Qmbar director of international affairs at the Iranian oil company , at a forum on thesector that "we can raise crude production according to market needs." 
comes Iran to increase its production of crude plans to the level before the sanctions , which was more than 4 million barrels per day before an informal meeting later this month among members of the Organization of Petroleum exporting countries countries (OPEC) in Algeria , where it is expected that producers are seeking to revive the installation of global production agreement. 
Qmbar said that "Iran is the third largest member of OPEC , produces currently a little over 3.8 million barrels per day. " 
attempts oil producers inside OPEC and outside to reach an agreement on the stabilization of production earlier this year because of Iran , which declined to participate in the agreement in light of its aspiration to increase its exports after the lifting of UN sanctions. 
Iran also seeks to export supply of new buyers crude in China via Trafigura trading company. 
he Qmbar " the Iranian oil company may raise its production capacity to 4.3 million barrels per day during thefirst quarter of next year and up to 5 million barrels per day during the two to three years , pointing out that the bulk of any production It would be a new heavy crude. " 
He added , " we believe that the market prefers heavy ores greater For this reason , we intend to launch anew product of this kind. "
Crude oil price is declining because of fears of an oversupply, Saudi Arabia and Russia sign an agreement to curb production


 Reuters / New York-Riyadh-Tehran 
It landed crude oil prices, on Monday, in Asia ,down 3 percent from the gains made ​​in the previous session amid concern the abundance of the world 'ssupply of oil. The price of Brent crude for delivery in November 18 cents to $ 46.65 a barrel by 2245 GMT , on Sunday. 
The global Brent crude has risen at the close on Friday of $ 1.38 after a report weak for jobs in the United States led to a falling dollar. And it helped him report also said that Russian President Vladimir Putin supports OPEC 's attempts to implement the freeze of production with other producers. 
The price of WTI US mediator for October delivery / October 18 cents to $ 44.26 a barrel after rising at theclose of Friday 's $ 1.28. 
It is likely to be dealings in US crude limited on Monday due to the Labor day holiday in the United States. 
in the same context , signed Saudi Arabia and Russia, signed an agreement for cooperation in the oil market ,including curbing production which caused the price rise strongly in the hope that the biggest hike was slapped works in the world together to address the glut of global supply of crude. 
Saudi Arabia 's Minister of energy and Russia 's agreement in China and signed on the sidelines of the Group of twenty summit after a meeting between Russian President Vladimir Putin and Crown Saudi Crown Prince Mohammed bin Salman. 
he said Russian energy Minister Alexander Novak said the two countries are heading towards the strategic partnership in the field of energy , although the high level of trust will allow them to face global challenges. 
will be held Organization of Petroleum exporting countries (OPEC) informal talks in Algeria later this month is expected to meet formally in Vienna in November next year. 
He called a number of OPEC producers to install production to curb oversupply of crude also hinted Arabia thelargest producer in the Organization to its willingness to cooperate at a time when it is facing pressure on its budget and seek to put part of Aramco 's state - owned oil producer in the stock market. Any agreement between OPEC and Russia is a member of the organization will be the first of its kind in the 15 years since that Moscow agreed to cut production with the organization at the beginning of the millennium , but Russia has never committed to its promises. 
In April / April Russia was ready to install the production with OPEC , but the talks collapsed after Riyadh hassaid it will not accept a deal unless attended by Iran 's third - largest crude producer in OPEC. Putin said last week that a new agreement on oil production may involve some compromises in regards to the Iranian production. 
For his part , a senior official said the National Iranian Oil Company said that his country was ready to increase its crude oil production to four million barrels per day within two months according to the demand in the market. 
he said Syed Mohsin Qmbar director of international affairs at the Iranian oil company , at a forum on thesector that "we can raise crude production according to market needs." 
comes Iran to increase its production of crude plans to the level before the sanctions , which was more than 4 million barrels per day before an informal meeting later this month among members of the Organization of Petroleum exporting countries countries (OPEC) in Algeria , where it is expected that producers are seeking to revive the installation of global production agreement. 
Qmbar said that "Iran is the third largest member of OPEC , produces currently a little over 3.8 million barrels per day. " 
attempts oil producers inside OPEC and outside to reach an agreement on the stabilization of production earlier this year because of Iran , which declined to participate in the agreement in light of its aspiration to increase its exports after the lifting of UN sanctions. 
Iran also seeks to export supply of new buyers crude in China via Trafigura trading company. 
he Qmbar " the Iranian oil company may raise its production capacity to 4.3 million barrels per day during thefirst quarter of next year and up to 5 million barrels per day during the two to three years , pointing out that the bulk of any production It would be a new heavy crude. " 
He added , " we believe that the market prefers heavy ores greater For this reason , we intend to launch anew product of this kind. "
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    Current date/time is Sat 10 Dec 2016, 8:41 am