Expert: Oil prices agree with the wishes of producers and consumers
24/6/2018 12:00 am
[rtl]New York / Morning follow-up
While oil prices have maintained their recovery over the last three days, a specialist in the economic affairs said that oil prices will maintain their acceptable levels in the global market.
The Organization of the Petroleum Exporting Countries (OPEC) and other senior producers agreed at a meeting in Vienna to increase output from July by about 1 million bpd
But the real increase will touch 770 thousand barrels per day, as Iraq said because a few countries have recently suffered from declines in production will find it difficult to access the quotas allocated to it, while other producers may not be able to bridge the gap. The actual increase in production is encouraging because it came Less than some of the highest figures discussed before the meeting. Some market expectations have indicated an increase of 1.8 million barrels per day.
Economist Haider Kazem al-Baghdadi said: "The prices of crude oil in global markets will remain within their current rates, and expected a relatively high in the coming months caused by the decline in global stocks," pointing out that "the propaganda exercises adopted by some countries to affect the prices of crude internationally not TAT Eat in the future in light of the decline of oil reserves. "
He pointed out that "the countries have made significant gains due to the rise in oil prices to acceptable levels for producers and consumers, which makes everyone looking to create a stable oil market to match the wishes of everyone." And yesterday ended the contracts of crude global measurement Brent trading session high $ 2.50, or 3.4 US crude was up $ 3.04, or 4.6 percent, to settle at $ 68.58 a barrel after a major drop in oil supplies to the storage center in Cushing, Oklahoma.
Brent ended the week up 2.7 percent, while US crude rose 5.5 percent.[/rtl]
[rtl][You must be registered and logged in to see this link.][/rtl]