History of edits:: 17.3.2017 12:36 • 136 visits readable
Oil's [where]: Prices below the level of ambition despite the positive cartel agreement
promised the Oil Ministry, crude oil prices in global markets, as without the level of ambition. "
Range price of Brent crude is currently between 50-52 dollars per barrel.
He said the ministry spokesman, Assem Jihad, told all of Iraq [where] that "still too early to decide on the extension of the cartel agreement or not , and even though he has had a positive impact on prices , but still below the level of ambition."
He added, " The agreement was to control the oversupply of oil and try to achieve a balance of supply and demand in the oil market and raise prices."
And Jihad, "and whatever there was alternative energy sources such as shale oil demand for crude oil as a commodity consumer remains head of the world but are affected by many reasons , including related Ptkhmh supply and speculation and geopolitical effects."
He stressed , "Now is too early to judge the impact of OPEC 's agreement on prices that were below the level of ambition , " noting that "Iraq is looking forward to the price of $ 60 a barrel."
He pointed out that "we are waiting for the Report of the Committee of the Petroleum Exporting Countries, which monitors the market in addition to our experts and national marketing company Sumo and Sntaty with market changes and share with the countries of OPEC members to take steps crisis in this direction , " he said . "We said from the early to judge the renewal of reduction procedures for periods of additional or sufficiency him and we'll see that over the next three Alashahra variables and see. "
The Organization of Petroleum Exporting Countries [OPEC] - which is composed of 14 countries, joined them recently Indonesia agreed on 28 December last to reduce the total production of the organization for the first time since 2008 in order to restore the balance in the market; which would raise world oil prices relatively .
Iraq participated in the agreement Btjamd production quantity of 210,000 barrels per day.
The Minister of Oil Jabar Luaibi, said last week that Iraq is ready to reduce its production of crude again if OPEC decided.
He said Allaibi during a conference of the energy sector was held in Houston last week , "It is too early to say whether it should be for OPEC to extend production cuts , " adding that Baghdad " is ready to participate if the organization decided to extend the restrictions before the second half of the year."