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


+2
Neno
wciappetta
6 posters

    OPEC» does not rule out the price of a barrel of oil to $ 200

    wciappetta
    wciappetta
    NNP TEAM
    NNP TEAM


    Posts : 5292
    Join date : 2012-12-20

    OPEC» does not rule out the price of a barrel of oil to $ 200  Empty OPEC» does not rule out the price of a barrel of oil to $ 200

    Post by wciappetta Tue 27 Jan 2015, 9:22 am

    OPEC» does not rule out the price of a barrel of oil to $ 200 


    Posted 27/01/2015 11:28 AM




    Babinaoz / agencies: 

    Did not rule out the Secretary-General of the Organization of Petroleum Exporting Countries (OPEC) Abdullah al-Badri that the price of a barrel of oil up to $ 200 if oil investments fell under low oil prices remain at current levels. Badri did not specify the length of time necessary for the prices even up to $ 200 but stressed that the majority of OPEC investments in the upstream sector of the oil and gas production is still continuing with the current price below $ 50 a barrel, and a few of them may be canceled.




    He explained Badri in a dialogue with the agency «Bloomberg» yesterday in London that the oil market is witnessing a surplus estimated at 1.5 million barrels per day, but he returned to say that this surplus will be corrected through supplies decline, not in terms of increasing demand, in an indication that the low prices will to a decline in production for some producers. It is the objective of the organization through its recent decision to keep the production ceiling as it is not to reduce their production.

    Badri was warned last week in Davos that oil prices remain low at the current level will affect the investment in production and if the oil has not seen suitable investments over the next 5 years, the prices will rise inevitably to $ 100 again. Badri said in his interview yesterday that the organization is ready for any meeting with the producers outside OPEC to discuss to restore balance to the market and an end to the imbalance in supply and demand balance solutions.

    In turn, the president of Venezuela, Nicolas Maduro yesterday confirmed the existence of serious talks with countries outside OPEC in order to create a coalition to support prices. And transfer Venezuelan state television yesterday Maduro's remarks during his visit to Saudi Arabia this month in which he said: «All I can say is that the work of building an alliance between OPEC and non-OPEC and everything related to this diplomatic policies and artwork progressing well».

    At the time of al-Badri expects the arrival of the surplus in the market to 1.5 million barrels a day, Barclays Bank predicted in a report yesterday got «Middle East», a copy of the current surplus in the market about 1.1 million barrels a day went mostly to storage tanks in the United States and China and on board ships, which made the Brent oil prices continue to remain in the position known as the postponement Alkontanico. Barclays Bank says that Alkontanico who witnessed the market today will be much higher than Alkontanico witnessed in 2008-2009. And Alkontanico mean that future oil futures prices are higher than the current contract prices and this is what traders are encouraged to store and sell in the future.

    Badri said in his interview yesterday that OPEC will return eventually to play the role of «the product is likely» in the global oil market, which means that OPEC after the end of the current crisis resulting from the imbalance in the balance of the market may be due to lower production to support prices.

    On the other hand, Al-Badri said that increasing Iraq's production will not affect the balance of the market and will not contribute to the accumulation of surplus significantly. Iraq plans to raise its production to 4 million barrels a day this year, according to the illustrated by Iraqi Oil Minister Adel Abdul Mahdi, in an interview with «Middle East» last month.

    In an interview with Bloomberg TV last week during his participation in «World Economic Forum» Badri ruled out that oil prices up to $ 20 or $ 25, and expected to remain in orbit 45 to $ 50, which has the current price. He said he does not expect prices to fall to twenty levels because the current decline has nothing to do with the balance of supply and demand and market fundamentals. Badri was made clear during a speech at the Forum that the organization's decision in November (November) the past not to cut production to counter the drop in crude prices was a sound decision. He said that if the organization had been forced to cut production to cut again after that because the non-Member States was the increase of production. Badri and repeat again that the production policy of OPEC is not directed against Russia or Iran or the United States.

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


    Posts : 10948
    Join date : 2012-12-17
    Age : 60
    Location : Lone Star State

    OPEC» does not rule out the price of a barrel of oil to $ 200  Empty Re: OPEC» does not rule out the price of a barrel of oil to $ 200

    Post by Neno Tue 27 Jan 2015, 9:26 am

    Blah blah blah !!!
    weslin3
    weslin3
    Interacting Investor
    Interacting Investor


    Posts : 7463
    Join date : 2012-12-19

    OPEC» does not rule out the price of a barrel of oil to $ 200  Empty Re: OPEC» does not rule out the price of a barrel of oil to $ 200

    Post by weslin3 Tue 27 Jan 2015, 9:39 am

    And yada, yada and yada!!!!
    wciappetta
    wciappetta
    NNP TEAM
    NNP TEAM


    Posts : 5292
    Join date : 2012-12-20

    OPEC» does not rule out the price of a barrel of oil to $ 200  Empty Re: OPEC» does not rule out the price of a barrel of oil to $ 200

    Post by wciappetta Tue 27 Jan 2015, 9:46 am

    Come on folks this shows the oil price reduction was a political decision having nothing to do with market forces. It show a deliberate plan to deflate the Russian economy and Iran. It is having a major impact too. Russia's bonds quality has just fallen to junk status...


    _________________
    [You must be registered and logged in to see this link.]In the beginning was the Word, and the Word was with God, and the Word was God.... For from His fullness, we have all received and grace upon grace. For the Law was given through Moses; grace and truth came through Jesus Christ. No one has ever yet seen God. The only begotten God, the One being in the bosom of the Father, He has made Him known. - Berean Literal Bible
    day dreamer
    day dreamer
    Interacting Investor
    Interacting Investor


    Posts : 3197
    Join date : 2012-12-19

    OPEC» does not rule out the price of a barrel of oil to $ 200  Empty Re: OPEC» does not rule out the price of a barrel of oil to $ 200

    Post by day dreamer Tue 27 Jan 2015, 10:00 am

    wciappetta wrote:Come on folks this shows the oil price reduction was a political decision having nothing to do with market forces. It show a deliberate plan to deflate the Russian economy and Iran. It is having a major impact too. Russia's bonds quality has just fallen to junk status...


    yeah but who suffers in the process....America has lost thousands of jobs with the low oil prices...my son in law after 10+ years just got layed off
    wciappetta
    wciappetta
    NNP TEAM
    NNP TEAM


    Posts : 5292
    Join date : 2012-12-20

    OPEC» does not rule out the price of a barrel of oil to $ 200  Empty Re: OPEC» does not rule out the price of a barrel of oil to $ 200

    Post by wciappetta Tue 27 Jan 2015, 10:05 am

    yes that's true it is a double edged sword...  as the article points out though it's a temporary situation over the long term, sorry for your son in law but my point is simply this is deliberate not market forces....not supply and demand like the news reports....
    wciappetta
    wciappetta
    NNP TEAM
    NNP TEAM


    Posts : 5292
    Join date : 2012-12-20

    OPEC» does not rule out the price of a barrel of oil to $ 200  Empty Re: OPEC» does not rule out the price of a barrel of oil to $ 200

    Post by wciappetta Tue 27 Jan 2015, 10:49 am

    Another  point to consider is does Russia counter the move by instigating trouble in a globally sensitive region? For example within one week after signing a new defense pact with Iran rebels in Yemen launch a major offensive resulting in the government of Yemen quitting. In the middle of this region is Saudi Arabia. Revenge is a meal best served cold, but Putin might  be pushed to take it warm. One pipeline in Saudi being damaged by a so called terrorist act is going to impact prices overnight. Also consider squeezing Saudi from Syria, Iran, and Yemen it's IMO a plan being hatched...

    also Yemen is strategic to where oil barges travel. Daily 3.8 MBD travel through that choke point into the red sea. Pipeline terminal is in Yemen.... not to forget Libya either... 
    [You must be registered and logged in to see this image.]
    [You must be registered and logged in to see this link.]

    You have to wonder what that hook in the jaw moment is?

    US needs to switch over to natural gas in a big way...
    fonz1951
    fonz1951
    Interacting Investor
    Interacting Investor


    Posts : 2666
    Join date : 2012-12-19

    OPEC» does not rule out the price of a barrel of oil to $ 200  Empty Re: OPEC» does not rule out the price of a barrel of oil to $ 200

    Post by fonz1951 Tue 27 Jan 2015, 11:00 am

    wciappetta wrote:yes that's true it is a double edged sword...  as the article points out though it's a temporary situation over the long term, sorry for your son in law but my point is simply this is deliberate not market forces....not supply and demand like the news reports....

    no kidding, that supply and demand thing is a slap in the face to anybody with an iq of above 50.all you have to do is take a road trip to see just as much if not more traffic on the road. it's all a scam, but to most motorists here in the states it's a blessing. on the other hand , the jackals will find a way to get it back to $100 plus a barrel.after they have accomplished whatever it is they are trying to accomplish.just my opinion and i'm sticking to it.
    weslin3
    weslin3
    Interacting Investor
    Interacting Investor


    Posts : 7463
    Join date : 2012-12-19

    OPEC» does not rule out the price of a barrel of oil to $ 200  Empty Re: OPEC» does not rule out the price of a barrel of oil to $ 200

    Post by weslin3 Tue 27 Jan 2015, 12:27 pm

    I agree.. It is just temporary with this low oil price. This is happening to fit their agenda in the world scene. When they sock it to us, I don't know...  306
    Neno
    Neno
    Admin
    Admin


    Posts : 10948
    Join date : 2012-12-17
    Age : 60
    Location : Lone Star State

    OPEC» does not rule out the price of a barrel of oil to $ 200  Empty Re: OPEC» does not rule out the price of a barrel of oil to $ 200

    Post by Neno Tue 27 Jan 2015, 5:04 pm

    DO NOT BE...SURPRISED! It could last a long time...

    Sponsored content


    OPEC» does not rule out the price of a barrel of oil to $ 200  Empty Re: OPEC» does not rule out the price of a barrel of oil to $ 200

    Post by Sponsored content


      Current date/time is Sat 13 Apr 2024, 7:55 pm