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Iraqi oil expert: The real confrontation between OPEC and America will begin in a few days
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2023-04-25 05:18
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Shafaq News/ The oil expert, Hamza Al-Jawahiri, predicted today, Tuesday, that the real confrontation between OPEC and the United States of America will begin in a few days, suggesting that oil prices will rise again.
Al-Jawahiri said in an interview with Shafaq News agency; "What is currently happening in terms of fluctuation in oil prices is a confrontation between OPEC and America," expecting that "this confrontation will not end, as the latter is preparing for the real confrontation that will begin in a few days."
He added, "America is currently seeking to reduce oil prices by pumping large quantities of strategic oil reserves that it has into the markets, while OPEC has sought to keep prices within the range of $80 through the voluntary reduction of one million and 660 thousand barrels per day, which will start as of the first of March." next May."
Al-Jawahiry expected that "prices will rise again if the voluntary reduction is initiated," adding that "OPEC + knows that this confrontation with America will not end through this reduction, and therefore OPEC studies will take this into account in light of this confrontation."
Crude oil prices rose with OPEC countries, including Iraq, announcing voluntary cuts of more than one million and 600 thousand barrels per day, starting next May, in addition to the previous cuts of two million barrels per day, before losing these gains with the passage of days, with expectations of raising interest rates in America and Europe, which warns of weak global economic growth.
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this image.]
2023-04-25 05:18
Share
Font
Shafaq News/ The oil expert, Hamza Al-Jawahiri, predicted today, Tuesday, that the real confrontation between OPEC and the United States of America will begin in a few days, suggesting that oil prices will rise again.
Al-Jawahiri said in an interview with Shafaq News agency; "What is currently happening in terms of fluctuation in oil prices is a confrontation between OPEC and America," expecting that "this confrontation will not end, as the latter is preparing for the real confrontation that will begin in a few days."
He added, "America is currently seeking to reduce oil prices by pumping large quantities of strategic oil reserves that it has into the markets, while OPEC has sought to keep prices within the range of $80 through the voluntary reduction of one million and 660 thousand barrels per day, which will start as of the first of March." next May."
Al-Jawahiry expected that "prices will rise again if the voluntary reduction is initiated," adding that "OPEC + knows that this confrontation with America will not end through this reduction, and therefore OPEC studies will take this into account in light of this confrontation."
Crude oil prices rose with OPEC countries, including Iraq, announcing voluntary cuts of more than one million and 600 thousand barrels per day, starting next May, in addition to the previous cuts of two million barrels per day, before losing these gains with the passage of days, with expectations of raising interest rates in America and Europe, which warns of weak global economic growth.
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