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Oil market and OPEC decision
Author: Mohamed Sherif Abu Maysam 04/7/2018 12:00 AM [rtl]What prompted the OPEC countries, which suffered a drop in oil prices over the years: 2015, 2016 and 2017 to decide to increase production after the decision to reduce the former production of the markets restored their prestige and stability? Did not those countries suffer large losses due to lower selling prices to the level of thirty dollars per barrel? At a time when the international oil companies manipulating the price movement, a lot of huge money over three years because of the margin between the difference between purchase prices and prices of the sale of products or petrochemicals and other, and that the current prices, which ranged at the rate of $ 70 a barrel, do not represent the real price Per barrel of oil certified by all the energy research centers, which sees the rate of $ 200 a barrel a minimum that can achieve justice for the amount of profits derived from the proceeds of products that extract oil barrels. The decision, taken at the end of last June, was presented at the fourth producers' meeting, which included producers from within and outside the Organization of Petroleum Exporting Countries. According to leaks, the decision appears to have come amid calls from companies that dominate the oil markets and major consumers to help reduce crude prices and avoid shortages. Which is necessary for oil reports to justify the decline in prices, and the invalidity of the effectiveness of the American Congress decision, which authorized the export of US oil in order to influence the decisions of producing countries on the reduction of production, as well as that The cut agreed about six months ago, amounted to about 1 million and 700 thousand barrels only. In the sense that this simple procedure and within a short period, rearranged the securities within the global oil market and give the OPEC countries and others more confidence in their decision-making capabilities, which can be invested to restore the balance of rights between producers and consumers, but the new OPEC decision to increase production sent letters Is not reassuring about the possibility of companies that control the movement of markets to influence the compass of the producing countries, which reinforces the idea that the oil companies are the ones who decide, and that OPEC is always seeking more (confidence with consumers, aiming to achieve the balance and stability required for global oil markets [/rtl] [rtl]http://www.alsabaah.iq/ArticleShow.aspx?ID=159492 [/rtl] |
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