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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Qatar expects non-Opec production to rise to 1.7 million bpd

    Rocky
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    Qatar expects non-Opec production to rise to 1.7 million bpd Empty Qatar expects non-Opec production to rise to 1.7 million bpd

    Post by Rocky Sun 18 Feb 2018, 2:56 am

    Qatar expects non-Opec production to rise to 1.7 million bpd







    Qatar expects non-Opec production to rise to 1.7 million bpd 5970

    Qatar National Bank (QNB) expects non-OPEC production to rise to 1.7 million bpd in 2018 as producers seek to tap higher prices. 
    The Bank of Qatar said in its weekly report that the US contribution of rock and non-rock oil will be 1.35 million barrels per day of the total increase expected in 2018, according to Qatar News Agency "Qena". 
    The Bank of Qatar confirmed that it is likely that producers of US rock oil have entered into future contracts at prices within the price level of $ 63 per barrel. 
    Qatar National Bank increased its estimate for Brent crude in 2018 to an average of $ 60- $ 65 per barrel, compared to previous estimates of $ 55 to $ 60 per barrel.
    OPEC and its partners are expected to maintain a strong output reduction agreement at 1.8 million barrels per day of oil out of the market until December 2018. 
    OPEC forecasts are expected to be offset by an increase in OPEC production, Production from some non-binding OPEC producers such as Libya and Nigeria. 
    The report pointed out that despite the adjustment and raising expectations on global GDP growth recently, including emerging markets, the International Energy Agency expects demand growth to drop slightly to 1.3 million barrels per day in 2018, compared to 1.7 million in 2017, where Higher prices will lead to a slight reduction in consumption.
    "Oil prices are controlled by a ceiling of $ 60 a barrel after 2018. On the one hand, OPEC will have a strong incentive to extend current production cuts beyond this year if a threat of price declines arises significantly because of oversupply, Market equilibrium and price support ". 
    "On the other hand, if prices are to exceed the parity price of US shale oil, US rock producers are likely to respond by increasing their production strongly, which will set a ceiling for oil prices," the report concluded. 
    Black gold has benefited from the dollar's slide near a three-year low, as well as comments by the UAE energy minister indicating a possible long-term deal between crude producers by the end of this year, rising at Friday's settlement and recording a weekly gain of more than 4% .


    http://economy-news.net/content.php?id=11166
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