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Expectations of the stability of the oil market in 2017
1/18/2017 0:00
[rtl]Capitals / follow-up to the morning
Expect the Secretary General of the Organization of Petroleum Exporting Countries (OPEC) Mohammad Barkindo the return of stability to the oil market this year.
This came at a time when Venezuela is seeking to raise the price of its basket of crude to $ 70 a barrel in the coming months, especially as it is among the most affected by the drop in crude prices.
It is likely to contribute orientations China to reduce domestic production of crude oil increased by seven percent by 2020, in support of oil market stability, despite the fresh concerns about oversupply due to increased production in the United States, and doubts about the commitment of OPEC and other producers cuts production in an effort to achieve a balance in the market and support prices.
Barkindo said at a news conference: "We are still optimistic that the full implementation in time for this historic agreement, will benefit producers and consumers and the global economy."
Meanwhile , crude oil prices fell amid growing production in the United States , which rose to nine million barrels , almost, from 8.5 million barrels in June, approaching the levels of production in 2014.
The price of Brent crude oil futures to $ 55.55 a barrel , 31 cents for another level Close, as WTI US mediator descended seven cents to $ 52.30 a barrel, while the basket recorded (OPEC) containing 13 species Khama 52.17 dollars per barrel.
It was Venezuela 's oil trading at $ 44.82 a barrel last week compared with an average price of $ 35.15 a barrel in 2016.
In a related development, the National Commission for Development and Reform Commission announced in the Chinese government, that crude oil supplies will amount to about 200 million tonnes by 2020 , or the equivalent of four million barrels a day , down from 215 million tons.[/rtl]
[rtl] http://www.alsabaah.iq/ArticleShow.aspx?ID=129979[/rtl]
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