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An oil expert identifies the reasons for the decline in Basra crude prices: Everyone is ignorant of the mechanisms of the oil market
- Time: 12/14/2023 13:48:11
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{Economic: Al-Furat News} Today, Thursday, oil expert Hamza Al-Jawahiri identified the reasons for the decline in Basra crude prices, pointing out that everyone is ignorant of the mechanisms of the oil market.
Al-Jawahri told {Al-Furat News} agency, "The decline in Basra crude prices is due to purely political reasons, through interventions from Western countries and pressure on certain oil-producing countries to silently flood the markets."
He continued: "It is not possible to know the amount or decrease in prices, and everyone is ignorant of the nature of the political agreement, and this is not one of the mechanisms of the oil market in terms of consumption."
He added, "The request for an increase is the one that has a political impact, whether it is an increase or something else, and no person can know about this matter."
This morning, the prices of Basra Heavy crude fell by $4.07 to reach $69.55, and the prices of Basra Medium crude fell by $4.07 to reach $72.10.
By Raghad Dahham
[You must be registered and logged in to see this link.]
{Economic: Al-Furat News} Today, Thursday, oil expert Hamza Al-Jawahiri identified the reasons for the decline in Basra crude prices, pointing out that everyone is ignorant of the mechanisms of the oil market.
Al-Jawahri told {Al-Furat News} agency, "The decline in Basra crude prices is due to purely political reasons, through interventions from Western countries and pressure on certain oil-producing countries to silently flood the markets."
He continued: "It is not possible to know the amount or decrease in prices, and everyone is ignorant of the nature of the political agreement, and this is not one of the mechanisms of the oil market in terms of consumption."
He added, "The request for an increase is the one that has a political impact, whether it is an increase or something else, and no person can know about this matter."
This morning, the prices of Basra Heavy crude fell by $4.07 to reach $69.55, and the prices of Basra Medium crude fell by $4.07 to reach $72.10.
By Raghad Dahham
[You must be registered and logged in to see this link.]
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