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Al-Kazemi's advisor: OPEC's policy will help stabilize prices instead of oversupplying the market
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Economy News - Baghdad
[size=21]The financial advisor to the Prime Minister, Mazhar Muhammad Salih, said, on Thursday, that the process of reducing some quantities produced from the quotas of members in OPEC, is subject to a standard formula to be agreed upon unanimously by the members.
Saleh added in an interview with the official news agency, "The future of the oil market is based on a bet based on the quantities produced and oil prices, and the goal is to strike a balance between the desired supply and demand and to address the market glut."
He continued, "OPEC's policy of reducing the excess supply of what the oil markets believe, will help stabilize prices instead of market glut, and continue with high supply, which is offset by a continuous decline in prices and losses in financial returns that are unknown."
Saleh expressed his hope that setting production quotas for the country's oil would not lead to negative effects on the expected financial returns.[/size]
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Added 09/08/2022 - 7:27 PM
Update 09/09/2022 - 2:34 PM
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Economy News - Baghdad
[size=21]The financial advisor to the Prime Minister, Mazhar Muhammad Salih, said, on Thursday, that the process of reducing some quantities produced from the quotas of members in OPEC, is subject to a standard formula to be agreed upon unanimously by the members.
Saleh added in an interview with the official news agency, "The future of the oil market is based on a bet based on the quantities produced and oil prices, and the goal is to strike a balance between the desired supply and demand and to address the market glut."
He continued, "OPEC's policy of reducing the excess supply of what the oil markets believe, will help stabilize prices instead of market glut, and continue with high supply, which is offset by a continuous decline in prices and losses in financial returns that are unknown."
Saleh expressed his hope that setting production quotas for the country's oil would not lead to negative effects on the expected financial returns.[/size]
97 . views
Added 09/08/2022 - 7:27 PM
Update 09/09/2022 - 2:34 PM
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