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Expectations of a new strategy out of the reduction of oil production
13/12/2017 12:00 am [rtl] Studied «OPEC» with independent producers Baghdad / follow - up Shokran Fatlawi at the time revealed the Minister of Energy of the UAE, Suhail bin Mohammed Al Mazroui, yesterday Monday that "OPEC" organization is studying with independent producers, how to get out of the cut crude oil production agreement, warned an expert Economist that any new strategy must take into account the acceptable price acceptable to all parties. "OPEC and independent producers plan to put an exit strategy out of production cuts in June," he told reporters in Abu Dhabi. "It is too early to talk about the shape of this strategy before June, which is the date for the meeting of OPEC and Russia and other producers involved in the agreement," al-Mazroui, whose country heads OPEC, said in 2018. In the meantime, the economic expert in the name of Antoine that "the oil market is on its way to a gradual recovery and access to acceptable rates of producers and consumers, and that all oil-producing countries affected by the decline of prices during the past three years and lived stages of austerity embarrassed economic reality, and unreasonable and acceptable to think Neglecting the agreement to cut oil production . " He pointed out that "any new strategy is to work to take into account the reality of prices within the acceptable rates for all parties." "We will announce a strategy at the June meeting, but that does not mean that we will get out of the agreement in the same month, but only will put the exit strategy," Mazroui was quoted as saying by Reuters. Novak said: "Russia cut last November production of crude oil by 304 thousand barrels per day compared to the levels of October 2016 commitment to the agreement (OPEC)." The Organization of the Petroleum Exporting Countries (OPEC) and a number of independent oil producers agreed at the end of 2016 in Vienna to cut oil production by a total of 1.8 million barrels per day from the level of October 2016, of which 300 thousand barrels per day Russia's share of the reduction. The agreement, reached in Vienna last year, contributed to rebalancing the oil market, with prices rising to between $ 50 and $ 60 a barrel after severe shocks to the market in 2014. The agreement was concluded in the first half of 2017, Extended in May until the end of March 2018, and then all agreed to extend it also last Thursday until the end of next year . The agreement reached in Vienna last year rebalanced the oil market, with prices rising to between $ 50 and $ 60 a barrel after severe shocks to the market in 2014. OPEC and independent producers, led by Russia, Have announced at their previous meeting extension of the agreement to reduce production until the end of 2018.[/rtl] [rtl]http://www.alsabaah.iq/ArticleShow.aspx?ID=149142 [/rtl] |
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