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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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Experts: The current drop in oil prices is temporary

rocky
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Experts: The current drop in oil prices is temporary Empty Experts: The current drop in oil prices is temporary

Post by rocky Sat 27 Nov 2021, 6:41 am

[size=52]Experts: The current drop in oil prices is temporary[/size]

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Baghdad: Huda Al-Azzawi

Experts in the fields of economy and oil in Iraq considered that the current decline in oil prices is “temporary” and is not largely related to the new Corona strain, but rather to other reasons.
The economic expert, Dr. Ahmed Al-Saffar, said: “The drop in international oil prices by about $5 during the past 24 hours is not the main reason for the Corona pandemic, and the health situation may affect, but not to this degree of severity.
decline.”
According to Al-Saffar’s belief, “the most important reason for this decline is that the major consuming countries have taken a policy to use the oil reserves that exist in America, Japan, China and some European countries that have declared the use of the oil reserves they have, and this has affected the level of oil supply and led to its decline.”
For his part, the oil expert, Hamza Al-Jawahiri, explained in his speech that “there is no price war and there is no conflict, but (OPEC Plus) reduced production more than a year ago in order to raise prices to a fair price for both the producing and consuming parties, and now that its price is close to $80, it will not It exceeds 90, and based on (OPEC)’s desire that the price be fair at this level, the oil organization hastened to put quantities in the markets, and the major financiers also offered quantities of strategic storage in order to curb prices, which led to this decline in prices.
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