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.

Join the forum, it's quick and easy

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

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Expectations that OPEC will adhere to the oil supply restrictions, although crude exceeded $ 70

    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 268059
    Join date : 2012-12-21

     Expectations that OPEC will adhere to the oil supply restrictions, although crude exceeded $ 70 Empty Expectations that OPEC will adhere to the oil supply restrictions, although crude exceeded $ 70

    Post by Rocky Thu 29 Mar 2018, 2:30 am

    Expectations that OPEC will adhere to the oil supply restrictions, although crude exceeded $ 70






    2018/03/29 09:40


    (Encyclopedia of this day , news | News Iraq ) -
    Economy News _ Baghdad


    Five OPEC members expected OPEC and its allies to stick to their agreement to cut oil production in the remainder of 2018, although some producers expressed concern that rising crude prices would be a strong incentive to increase the output of competitors.


    OPEC, Russia and other independent producers have cut their oil production since January 2017 to absorb the glut of global crude supply accumulated since 2014, extend the agreement until the end of 2018 and meet on June 22 to review the policy.


    The deal has supported oil prices above $ 71 a barrel this year for the first time since 2014, and prices close to $ 70, but that has also spurred US rock oil, raising debate about how effective production cuts are.


    Russia, the world's biggest oil producer, has cooperated with the 14-member OPEC to curb supplies and boost prices in periods of rough supply, but if the two sides reach an agreement of 10 to 20 years, it will be unprecedented.


    "OPEC is looking forward to a very long-term cooperation with other oil exporters. In addition to the 24 countries that came to expect the declaration of cooperation in November, we have six other producing countries that came to show their solidarity," said Mohamed Barkindo, secretary general of the Organization of the Petroleum Exporting Countries (OPEC) .


    Barkindo was commenting on reports that Saudi Arabia, OPEC's biggest producer and non-OPEC member Russia, was working toward a long-term historic agreement that could extend global oil supply constraints set by top exporters for up to 20 years.


    Barkindo stressed that OPEC is assessing the impact of the supply reduction agreement to determine the "appropriate action" to take when it expires. Moreover, Barkindo stressed that investment in the oil sector increases with the recovery of oil prices, but has not yet reached the level it was before the fall in prices In 2014.


    With regard to the resources of Iraq, OPEC's second largest producer, Oil Minister Jabbar al-Luaibi said that his country may have oil reserves of about twice the current estimates of about 150 billion barrels, noting that the crude market is consolidating and that prices have "improved" A decision on extension of production cuts beyond 2018 will depend on the meetings of exporters by the end of this year.






    Note: The content that is called (expectations of OPEC adherence to the restrictions of oil supply, despite the excess of $ 70 crude) was published first on the site (economy News) and does not bear the encyclopedia of this day news content in any way. 
    You can see the details of this title (expectations of OPEC adherence to the restrictions of oil supply, although exceeded the crude $ 70) through the original source any location (economy News).



    https://hathalyoum.net/articles/1515618-%D8%AA%D9%88%D9%82%D8%B9%D8%A7%D8%AA-%D8%A8%D8%AA%D9%85%D8%B3%D9%83-%D8%A3%D9%88%D8%A8%D9%83-%D8%A8%D9%82%D9%8A%D9%88%D8%AF-%D8%A7%D9%84%D9%85%D8%B9%D8%B1%D9%88%D8%B6-%D8%A7%D9%84%D9%86%D9%81%D8%B7%D9%8A-%D8%B1%D8%BA%D9%85-%D8%AA%D8%AC%D8%A7%D9%88%D8%B2-

      Current date/time is Sun 14 Apr 2024, 6:25 pm