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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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International Investment Bank expects "longer period" for lower oil prices

rocky
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International Investment Bank expects "longer period" for lower oil prices Empty International Investment Bank expects "longer period" for lower oil prices

Post by rocky Thu 03 Jan 2019, 1:36 am

International Investment Bank expects "longer period" for lower oil prices %D8%A8%D9%86%D9%83-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A-668x350

[size=32]International Investment Bank expects "longer period" for lower oil prices[/size]

[rtl]19 views[/rtl]


[rtl]Direction / Continue[/rtl]

[rtl]The International Investment Bank (JP Morgan) has forecast that the price of Brent crude will hover around $ 55 a barrel in 2019, expecting the decline to continue for a longer period.[/rtl]

[rtl]Scott Darling, head of oil and gas affairs at JPMorgan Asia Pacific, said in an interview with CNBC that he expected crude prices to remain low for a longer period, (OPEC) is committed to reducing oil production through 2019.[/rtl]

[rtl]A new agreement to cut oil production has started to be around 1.2 million bpd, starting Monday, between Opec members and two independent producers led by Russia, for six months.[/rtl]

[rtl]Darling said Opec +, which includes OPEC members and independent producers involved in the cut-off deal, decided to cut production by 1.2 million bpd in the first half of this year, not the whole year. "So we expect Brent crude to be around $ 55 a barrel Through 2019 ".[/rtl]

[rtl]Brent crude futures for March delivery are trading at $ 53.27 a barrel for the moment, and US crude futures for February delivery were around $ 44.86 a barrel.[/rtl]

[rtl]The official said the factors that could keep oil prices weak in 2019 include the slowdown in oil demand and the uncertainty about full compliance by OPEC members on the reduction of supply by 1.2 million barrels per day.[/rtl]

[rtl]In 2018, oil prices suffered their worst annual losses since 2015; Brent crude fell 19.5 percent, with stock market volatility, geopolitical expectations and falling demand expectations for the energy market.[/rtl]

[rtl]Darling pointed out that geopolitical risks in places like Venezuela could push oil prices higher.[/rtl]



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