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[size=35][size=35]Risks haunt "OPEC Plus"... Expectations of the disintegration of the alliance and oil prices reaching $35[/size][/size]
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2023-07-30 | 02:50
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Alsumaria News - Economy
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And the site stated, in its report, that 2022 was a distinguished year for ““[You must be registered and logged in to see this link.] Plus”; nominal revenues reached their highest level since 2013; to reach $ 888 billion for the year 2022, according to figures issued by the [url=https://www.alsumaria.tv/Entity/612657829/%D8%A5%D8%AF%D8%A7%D8%B1%D8%A9 %D9%85%D8%B9%D9%84%D9%88%D9%85%D8%A7%D8%AA %D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A9 %D8%A7%D9%84%D8%A3%D9%85%D8%B1%D9%8A%D9%83%D9%8A%D8%A9/ar/]US Energy Information Administration[/url]; They increased by a whopping 54 percent from 2021 levels and slightly higher than the 2014 total, after which oil prices began their long decline. However, the real numbers are not rosy; Once inflation is factored in, prices are actually down by about a fifth compared to 2014, though it's still a significant 43 percent increase from last year.
Despite the massive gains in oil prices caused by the Russian war in Ukraine last year, [You must be registered and logged in to see this link.] members are reaping hugely disproportionate returns from a shrinking basket. Indeed; The alliance is under severe pressure due to the decline in oil demand and the lack of coordination among members, and some experts believe that "[You must be registered and logged in to see this link.] Plus" is at risk of collapse in the near term.
And the site stated that ““[You must be registered and logged in to see this link.]” revenues may appear to be on a significant upward trend after the epidemic thanks to high oil prices, but the actual number of barrels being sold is still alarmingly low.
“While the amount increased last year, it remained below pre-pandemic levels and among the lowest of any year so far this century,” [You must be registered and logged in to see this link.] reported earlier this month.
"Indeed, taking all factors into account, real per capita export earnings in 2022 are lower than they were in 2009, when global GDP contracted and nominal oil prices fell by about 40 percent," he added.
The site stated that ““[You must be registered and logged in to see this link.]” is concerned for understandable reasons. Following windfall gains in the war last year, [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] - the group's de facto leader - pushed for sharp production cuts in order to keep oil prices high, but a further drop in the amount of barrels produced and sold backfired for the government. [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]. this week only; The International Monetary Fund cut its growth forecast for [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] from 3.2 percent to just 1.9 percent.
He pointed to "the production cuts announced in April and June in line with an agreement through" [You must be registered and logged in to see this link.] Plus "as a driving factor for the revised forecasts, and this decline represents his complete turn to [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], which was the fastest growing economy in the Group of Twenty in 2022.
And the site indicated that the burden of production cuts - and the resulting economic blow - is not borne equally by the members of "[You must be registered and logged in to see this link.] Plus". Greg Priddy, a consultant at Spot Run Advisory and a senior fellow at the Center for the National Interest in Washington, D.C., told Middle East Eye earlier this month: ““[You must be registered and logged in to see this link.] has been pretty much cheating and avoiding cuts in [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]. ". In fact, the [url=https://www.alsumaria.tv/Entity/2512591487/%D8%A7%D9%84%D9%88%D9%83%D8%A7%D9%84%D8%A9 %D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A%D8%A9 %D9%84%D9%84%D8%B7%D8%A7%D9%82%D8%A9/ar/]International Energy Agency[/url] stated that [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] is on its way to losing its position as the largest oil producer in ““[You must be registered and logged in to see this link.] Plus”; Where [You must be registered and logged in to see this link.] is set to overtake it.
The site stated that [You must be registered and logged in to see this link.] needs [You must be registered and logged in to see this link.] in order to maintain its ability to control oil prices. "A growing number of [You must be registered and logged in to see this link.] members are far past their prime in terms of production capacity anyway, and are bogged down variously by war, sanctions, and mismanagement," [You must be registered and logged in to see this link.] reported. But the shift of power away from [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] and towards [You must be registered and logged in to see this link.] poses a major problem for the group's cohesion, and perhaps its longevity.
The site concluded its report with statements by Per Leander, Director of the [url=https://www.alsumaria.tv/Entity/1780478986/%D9%85%D8%A4%D8%B3%D8%B3%D8%A9 %D8%AA%D8%AD%D9%88%D9%84 %D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A9 %D8%A7%D9%84%D9%86%D8%B8%D9%8A%D9%81%D8%A9/ar/]Clean Energy Transition Foundation[/url], which he made last week to CNBC; He said he was "very sure" that the "[You must be registered and logged in to see this link.]+" alliance would break, adding, "The more negative growth there is, the less you cooperate."
And if the "[You must be registered and logged in to see this link.] Plus" alliance, which currently controls about 40 percent of the world's crude [You must be registered and logged in to see this link.] breaks up, oil prices could drop to $35 a barrel
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Economy
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2023-07-30 | 02:50
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2,244 views
Alsumaria News - Economy
The "Oil Price" website published a report on the future of the OPEC Plus alliance, considering that these are the best and worst times for OPEC. Depending on which member you are asking about.
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And the site stated, in its report, that 2022 was a distinguished year for ““[You must be registered and logged in to see this link.] Plus”; nominal revenues reached their highest level since 2013; to reach $ 888 billion for the year 2022, according to figures issued by the [url=https://www.alsumaria.tv/Entity/612657829/%D8%A5%D8%AF%D8%A7%D8%B1%D8%A9 %D9%85%D8%B9%D9%84%D9%88%D9%85%D8%A7%D8%AA %D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A9 %D8%A7%D9%84%D8%A3%D9%85%D8%B1%D9%8A%D9%83%D9%8A%D8%A9/ar/]US Energy Information Administration[/url]; They increased by a whopping 54 percent from 2021 levels and slightly higher than the 2014 total, after which oil prices began their long decline. However, the real numbers are not rosy; Once inflation is factored in, prices are actually down by about a fifth compared to 2014, though it's still a significant 43 percent increase from last year.
Despite the massive gains in oil prices caused by the Russian war in Ukraine last year, [You must be registered and logged in to see this link.] members are reaping hugely disproportionate returns from a shrinking basket. Indeed; The alliance is under severe pressure due to the decline in oil demand and the lack of coordination among members, and some experts believe that "[You must be registered and logged in to see this link.] Plus" is at risk of collapse in the near term.
And the site stated that ““[You must be registered and logged in to see this link.]” revenues may appear to be on a significant upward trend after the epidemic thanks to high oil prices, but the actual number of barrels being sold is still alarmingly low.
“While the amount increased last year, it remained below pre-pandemic levels and among the lowest of any year so far this century,” [You must be registered and logged in to see this link.] reported earlier this month.
"Indeed, taking all factors into account, real per capita export earnings in 2022 are lower than they were in 2009, when global GDP contracted and nominal oil prices fell by about 40 percent," he added.
The site stated that ““[You must be registered and logged in to see this link.]” is concerned for understandable reasons. Following windfall gains in the war last year, [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] - the group's de facto leader - pushed for sharp production cuts in order to keep oil prices high, but a further drop in the amount of barrels produced and sold backfired for the government. [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]. this week only; The International Monetary Fund cut its growth forecast for [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] from 3.2 percent to just 1.9 percent.
He pointed to "the production cuts announced in April and June in line with an agreement through" [You must be registered and logged in to see this link.] Plus "as a driving factor for the revised forecasts, and this decline represents his complete turn to [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], which was the fastest growing economy in the Group of Twenty in 2022.
And the site indicated that the burden of production cuts - and the resulting economic blow - is not borne equally by the members of "[You must be registered and logged in to see this link.] Plus". Greg Priddy, a consultant at Spot Run Advisory and a senior fellow at the Center for the National Interest in Washington, D.C., told Middle East Eye earlier this month: ““[You must be registered and logged in to see this link.] has been pretty much cheating and avoiding cuts in [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]. ". In fact, the [url=https://www.alsumaria.tv/Entity/2512591487/%D8%A7%D9%84%D9%88%D9%83%D8%A7%D9%84%D8%A9 %D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A%D8%A9 %D9%84%D9%84%D8%B7%D8%A7%D9%82%D8%A9/ar/]International Energy Agency[/url] stated that [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] is on its way to losing its position as the largest oil producer in ““[You must be registered and logged in to see this link.] Plus”; Where [You must be registered and logged in to see this link.] is set to overtake it.
The site stated that [You must be registered and logged in to see this link.] needs [You must be registered and logged in to see this link.] in order to maintain its ability to control oil prices. "A growing number of [You must be registered and logged in to see this link.] members are far past their prime in terms of production capacity anyway, and are bogged down variously by war, sanctions, and mismanagement," [You must be registered and logged in to see this link.] reported. But the shift of power away from [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] and towards [You must be registered and logged in to see this link.] poses a major problem for the group's cohesion, and perhaps its longevity.
The site concluded its report with statements by Per Leander, Director of the [url=https://www.alsumaria.tv/Entity/1780478986/%D9%85%D8%A4%D8%B3%D8%B3%D8%A9 %D8%AA%D8%AD%D9%88%D9%84 %D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A9 %D8%A7%D9%84%D9%86%D8%B8%D9%8A%D9%81%D8%A9/ar/]Clean Energy Transition Foundation[/url], which he made last week to CNBC; He said he was "very sure" that the "[You must be registered and logged in to see this link.]+" alliance would break, adding, "The more negative growth there is, the less you cooperate."
And if the "[You must be registered and logged in to see this link.] Plus" alliance, which currently controls about 40 percent of the world's crude [You must be registered and logged in to see this link.] breaks up, oil prices could drop to $35 a barrel
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