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[ltr]OPEC predicts the return of the balance of global oil prices this year[/ltr]
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Follow-up - Iraq Press - January 18: According to the Organization of oil-producing countries (OPEC), on Monday, he expects to start "the process of the return of balance" to this year oil prices after they led a sharp drop in crude prices to a decline in the production of non-member states in the organization including the United States dramatically after seven years of growth "phenomenal".
If those expectations come true, it would constitute a kind of victory for the strategy to continue to OPEC oil production at current rates, despite lower prices to below $ 30 a barrel (compared with $ 100 in 2014) to protect its market share.
According to the FAO report for the month of January (January) 2016 that "analyzes indicate that 2016 will be the year of supplies it moves."
The report added that "after seven consecutive years of explosive growth of supply from non-members of OPEC, the year 2016 will see a decline in its output because falling prices will begin to impact significantly."
The organization raised its forecast down the production of non-member States of 270 000 barrels per day to 660 000 barrels per day, so that its output will reach to 56.21 million barrels per day.
The report said the "marginal production for non-members of the organization during the next six months will depend on the continued decline in oil prices, since they will not be able to price the possibility of circumstances at the time."
OPEC raised its forecast for growth in global oil demand this year a few percent to 1.26 million barrels per day to 94.17 million barrels per day. For the month of December (December) OPEC said that global oil supplies fell 0.34 barrels to 95.20 million barrels per day rate.
And decreased non-member countries in OPEC supplies about 0.13 million bpd, while OPEC supplies dropped by 0.21 million barrels per day, which led to a decline in the share of the Organization's global output to 33.8% compared with 33.9% in the month above.
The recorded oil prices dramatically in recent months, as the price of a barrel in trading Monday morning to $ 28, amid slowing Chinese economy and the prospects for Iran's return to the market with the start of the implementation of the July agreement (July nuclear).
Despite a slight recovery in the London market, the price of oil fell below $ 30 a barrel Monday after the United States and the European Union lifted sanctions on Iran.
Iran became free now pumping oil in the market adds to the glut that led in addition to weak demand and a slowdown in the global economy, to lower prices by about 70% since mid-2014.
The OPEC in the past to address the drop in prices to reduce its production. But this time she has chosen to keep production steady.
The aim of this strategy, led by Saudi Arabia, to maintain market share in the organized and directed by American producers of oil shale from him, after he saw their production boom in recent years, but they need to higher prices for oil in order to realize their profits. Q ended
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