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Expectations of higher global crude prices after the forthcoming meeting of OPEC
1/23/2017 0:00
[rtl]Capitals / follow - Sabah
said Mohammed Barkindo Secretary - General of the Organization of the Petroleum Exporting Countries (OPEC): The meeting will be held this week in Vienna , featuring members of the organization and some producers from abroad , including Russia , to adopt a mechanism to monitor compliance to verify that producers commitment agreement to reduce output by 1.8 million bpd.
Saudi Energy Minister Khalid al - Falih said he was pulled 1.5 million barrels per day already from the market. This came at a time when the President announced Azerbaijan, Ilham Aliyev, his country 's readiness to further reduce oil production if the Organization has taken (OPEC) and the producing countries outside the Organization decision in this regard.
Aliyev said in a statement to the Agency "Novosti": "We took on our commitments to cut oil production to 35 thousand barrels a day, and we will apply these commitments, and the process has already begun."
Aliyev said: "Until now, we have reduced 35 thousand barrels, and later we will see if the decision was made additional cuts, we of course we will support this, because we are in solidarity with all the countries here to be involved in this process."
Oil prices rose more than 2 percent in the last session before the weekend thanks to expectations that a meeting of the top oil producers in the world will show their commitment to a global agreement to cut production when it is held next Monday , but increased drilling activities in the United States curbed Almkasp.oonhy International benchmark Brent crude was up $ 1.33 , or about 2.5 percent to $ 55.49 a barrel , while US crude futures ended for delivery in February trading high of $ 1.05 , or two percent , to $ 52.42 a barrel on the session.
And reduced gains after Baker Hughes Inc. data Energy Services , which showed that US drilling companies added in the last week , the largest number of new rigs in nearly four Snoat.oukalt the US Energy Information Administration late last week that crude oil inventories in the United States rose unexpectedly by 2.3 million barrels in the week ending January 13, while the data showed a much larger than expected rise in gasoline stocks.[/rtl]
[rtl]http://www.alsabaah.iq/ArticleShow.aspx?ID=130299[/rtl]
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