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.

Join the forum, it's quick and easy

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

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    OPEC is discussing the next oil policy steps.. Will demand concerns drive a production cut?

    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 274286
    Join date : 2012-12-21

    OPEC is discussing the next oil policy steps.. Will demand concerns drive a production cut? Empty OPEC is discussing the next oil policy steps.. Will demand concerns drive a production cut?

    Post by Rocky Sun 04 Jun 2023, 3:52 am

    [size=35][size=35]OPEC is discussing the next oil policy steps.. Will demand concerns drive a production cut?[/size]
    [You must be registered and logged in to see this link.]
    [/size]

    Economy

    [size][size]
    [You must be registered and logged in to see this link.][/size]
    2023-06-04 | 02:14
    [You must be registered and logged in to see this image.]
    [/size]


    206 views


    Alsumaria News - Economy

    The "OPEC +" alliance of oil producers will decide on more production policy steps at a meeting on Sunday, as crude oil prices reflect an ongoing struggle between supply and demand fundamentals and broader concerns about the macro economy.


    [ltr]








    0 seconds of 0 seconds Volume 0%





     [/ltr]

    Two sources from the ““[You must be registered and logged in to see this link.] +” alliance said that it is discussing possible options, including an additional reduction in oil production by about one million barrels, at today’s meeting.

    For his part, Iraqi Oil Minister Hayan Abdul-Ghani said that it is too early to talk about ““[You must be registered and logged in to see this link.] +” cutting oil supplies by about one million barrels per day before Sunday, according to [You must be registered and logged in to see this link.].



    [You must be registered and logged in to see this link.]+ ministers face an oil market shaken by volatile supplies, uncertainty about demand, and a potential recession that could choke off transportation fuel consumption. Since October, [You must be registered and logged in to see this link.]+ - an alliance of 23 members including [You must be registered and logged in to see this link.] and [url=https://www.alsumaria.tv/Entity/47950/%D8%A7%D9%84%D9%85%D9%85%D9%84%D9%83%D8%A9 %D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9 %D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9/ar/]Saudi Arabia[/url] - has cut production by 2 million barrels per day in an effort to combat falling demand. Some members also announced additional voluntary cuts totaling 1.6 million barrels per day in April.

    On May 23, [url=https://www.alsumaria.tv/Entity/3060114005/%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9 %D9%84%D9%84%D8%B7%D8%A7%D9%82%D8%A9/ar/]Saudi Energy[/url] Minister Prince [url=https://www.alsumaria.tv/Entity/3744886816/%D8%B9%D8%A8%D8%AF %D8%A7%D9%84%D8%B9%D8%B2%D9%8A%D8%B2 %D8%A8%D9%86 %D8%B3%D9%84%D9%85%D8%A7%D9%86/ar/]Abdulaziz bin Salman[/url] warned oil market speculators that they could face more pain ahead, in comments read by some as hinting that further supply cuts may be imminent.

    Russian Deputy Prime Minister [url=https://www.alsumaria.tv/Entity/1193232530/%D8%A3%D9%84%D9%83%D8%B3%D9%86%D8%AF%D8%B1 %D9%86%D9%88%D9%81%D8%A7%D9%83/ar/]Alexander Novak[/url] later indicated that he did not expect further steps from the "[You must be registered and logged in to see this link.] +" meeting, but then said that his comments were misinterpreted as downplaying the importance of the production cut, according to the Russian state news agency TASS

    [You must be registered and logged in to see this link.] +, who did not want to be named due to market sensitivity at the meeting, told [You must be registered and logged in to see this link.] that further production cuts are unlikely. One suggested that this would remain the case unless demand remained subdued in [You must be registered and logged in to see this link.] - where the recovery was less than expected, following the easing of severe Covid restrictions.

    [You must be registered and logged in to see this link.]

      Current date/time is Tue 23 Jul 2024, 4:33 am