12:33 - 07/03/2017
A report by the newspaper Asia Times Economic, that for the first time since 2008, announces the US Energy Information Administration said total crude oil and gasoline stocks in the United States have reached their highest levels, adding new pressure on oil markets at the same time as OPEC announced rise in the updated production both Libya and Nigeria and Iraq.
The report, which translates agency / information / stated that "the political climate in the countries improved in the three countries, which helped to increase production, have also been exempted from the extended production cuts approved by OPEC last November in order to increase prices in the market in Iraq represents a paper Joker because Baghdad does not agree with OPEC production limits, which provides a signal that relieves pressure on world oil prices. "
He added that "Despite the expansion in OPEC to cut production, but the abundance of oil in the world to prevent oil prices from going up as there are issues contributing to the descent of oil prices, including non-restrictive policies pursued by the Trump administration in terms of fossil fuels and shale oil production, unlike the Obama administration's policy which calls for the production of clean energy and the lack of exploration and production in federal lands to the extent that some experts predicted that the price of a barrel of oil to $ 20. "
The report said that "the United States are determined by world oil prices through the leadership of the extraction of oil shale, which involve hydraulic fracturing in the states of Texas, North Dakota, Oklahoma and Pennsylvania operations."
The report noted that "the biggest leading oil effects will come in 2020 from three factors management more intelligent Systems exploration complex and production data analysis and automation, which allows companies to oil and natural gas to provide more products to the global market is saturated down costs never before" . Finished / z 25