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Neno's Place Established in 2006 as a Community of Reality


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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

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Established in 2006 as a Community of Reality

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


    Split between OPEC producers deepens as oil prices fall By Benoit Faucon, Summer Said, and Sarah Ken

    Rocky
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    Split between OPEC producers deepens as oil prices fall By Benoit Faucon, Summer Said, and Sarah Ken Empty Split between OPEC producers deepens as oil prices fall By Benoit Faucon, Summer Said, and Sarah Ken

    Post by Rocky Tue 14 Oct 2014, 4:21 am

    Split between OPEC producers deepens as oil prices fall By Benoit Faucon, Summer Said, and Sarah Kent



    10/13/2014 0



    An oil tanker loads up with Iraqi crude oil at Al Basra oil terminal in the Northern Arabian Gulf. A rift between OPEC members deepened over the weekend, as producers in the cartel moved in different directions amid falling oil prices. Venezuela, which has been one of the most outspoken proponents of a production cut by the Organization of the Petroleum Exporting Countries, called over the weekend for an emergency meeting of the group to respond to falling prices. But Kuwait said Sunday that OPEC was unlikely to act to rein in output. Saudi Arabia, meanwhile, appeared to expand on its recent move to defend its market share at the expense of other members by aggressively courting customers in Europe. Traders said Saudi Arabia is now asking for stronger commitments from some of its buyers in Europe, a move that would lock in those customers, including any new ones it would gain with recent price reductions.
    Also on Sunday, Iraq’s State Oil Marketing Company cut the price of Basrah Light crude in November for Asian and European buyers by 65 cents. That marks a discount of $3.15 a barrel below the Oman/Dubai benchmark for Asian customers and $5.40 below the Brent benchmark for European customers, according to official selling prices published by the company.

    The moves and countermoves are the latest in a time of particular discord in OPEC. The organization was founded to leverage members’ collective output to help influence global prices. In recent periods of low prices, Saudi Arabia — OPEC’s top producer and de facto leader — has managed to cobble together some level of consensus.

    But even modest cooperation between many members has broken down, and Saudi Arabia, in particular, has moved to act on its own. While it cut output earlier this summer, other members didn’t go along. Since then, it has dropped its prices.

    Late Friday, Venezuelan Foreign Minister Rafael Ramirez, who represents Caracas in the group, called for an urgent meeting to tackle falling prices. The group’s next regular meeting is set for late next

    month.  http://goo.gl/P1I9Oy
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