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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

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    Experts: Oil war between the major powers have caused heavy losses for the Iraqi economy

    Rocky
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    Experts: Oil war between the major powers have caused heavy losses for the Iraqi economy Empty Experts: Oil war between the major powers have caused heavy losses for the Iraqi economy

    Post by Rocky Tue 19 Jan 2016, 6:06 am

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    Experts: Oil war between the major powers have caused heavy losses for the Iraqi economy


     Baghdad / Ibrahim Ibrahim 
    1/19/16
    Counting an expert in the field of oil, on Monday, that Iraq States most affected by the drop in oil prices globally because of its economy, rent-seeking, as he emphasized that "oil war" triggered by some producing countries may continue in the case in the absence of reducing global production of 5 to 10 % to ensure higher prices again. The oil expert Hamza Jeweler in an interview for the "long" that "the belief in the past period that the barrier of $ 40 a barrel would hinder the process of falling oil prices, the fact that oil production rates is traditional in excess of $ 40, even after the announced Some service companies interventions wells for reaching to new technologies allow lower cost of production below that, at about $ 35 a barrel. "He said" the continued price decline until now amount to less than $ 30 a barrel level, and this confirms that the reason to plunge the markets is only an economic war of a political nature, not merely an economic process aimed at the expulsion of non-conventional oil from the market as they claim, where were employed oil as a weapon in an unjust battle against political opponents. "He said the jeweler that" in the summer of 2014 began oil war, when oil prices took deteriorate super fast from the level of $ 120 down to $ 50 during the period of two months, and this is a very short period of time are not justified by economic reasons that have been its market to justify such a rapid decline, to Tstqrand $ 50 for a period of two more months, to return to continue falling to below $ 30. "" The price drop World crudes has been stifled by the Iraqi economy, in addition to Iran and Russia, but their impact on these two countries was lighter, the fact that their economies not Rieia as in the case of Iraq. "He said the jeweler that" additional quantities being pumped markets does not exceed two million barrels of the highest appreciation to her, Because the reports are talking about a million and a half million additional undeclared, if able-producing countries, except for the three Gulf states and America, of course, can reduce the production of three million barrels per day, the mere announcement of it, that would raise prices well proportioned. "He added that" Russia the first product in the world, and the biggest target, has expressed a desire to reduce the production over a year ago, and reiterated this desire more than once during this period. And together with the other countries affected by the dumping policy, it can reduce production rates ranging between 5% and 10% and then market monitoring carefully to make sure that figure realistic reduction which you can do to rein in falling prices and maintained at an acceptable level of between $ 70 to $ 80 a barrel. " He pointed Jeweler that "the Iraqi government's policy must be based on the theory of reduction of production source in the coming period in cooperation with the OPEC countries affected originally from dumping policy undone black gold Brega." The Iraqi Oil Marketing Company (SOMO) on Monday (11 / January / 2016 ) The Iraq raise the official selling shipments of February, the price of Basra Light crude destined to Asia by $ 0.65 to reach average Khami the Sultanate of Oman and Dubai price less US $ 2.80 per barrel compared with the previous month. The Sumo in a statement seen by the "long", that "the price Basra crude heavy for the same month determine a discount of 7.30 dollars per barrel average for Oman and Dubai crude. "determine the price of February shipments of Basra Light crude to North and South American markets at Argus index High crude level of sulfur minus $ 0.95 a barrel, down from the previous month while sale Kirkuk crude price went down to the United States to record an increase of $ 0.20 a barrel above the index. For shipments to Europe down the price of Basra Light crude to $ 0.30 for up to Brent price less US $ 5.05 a barrel, while the price of February shipments settled from Kirkuk crude unchanged at Brent minus $ 4.65 a barrel. He was deputy director general of the South Oil Company Salah Mehdi said that the average Iraqi oil exports from the southern port of Basra reached 3.297 million barrels per day since the beginning of the year registered an average higher than in December, without mention of the clashes between the visual clans effect. said Mahdi in an interview with Reuters, Friday (15 / January / 2016) in Basra to work in all fields is progressing normally, adding that the security situation is very good and he did not see any effect on oil operations. Security sources said last Friday that Iraq sent armored force and a police force to Basra to disarm the population with the intensification of fighting between clans. On average, Iraq exported 3.215 million barrels of crude per day in December, according to the Ministry of Oil. The majority of Iraq's oil production from the south. As indicated the British newspaper The Telegraph, on Thursday (10 / January / 2016) that oil prices may continue to decline until it reaches $ 10 per barrel, to descend so to levels not seen since 2009 and collapsed oil prices During the past few weeks until I got to below $ 30 per barrel, and Brent crude fell to its lowest level in 12 years. Experts warn that the oil market is still suffering a lack of balance in the light of over-supply and the decline of demand, and banks, big oil price forecast up to $ 10, including Standard Chartered Bank's latest major banks, who joined Goldman Sachs and Morgan Stanley in their expectations, according to the newspaper. The newspaper quoted a spokesman for Standard Chartered that "there is no limit on the horizon it is possible to settle with him the price of oil, and admitted that money managers in the market believe that things have gone too far. "" Given that there is something fundamental is currently leading the oil market towards any balance, so being a rise in prices almost entirely through financial flows resulting from the volatility in other asset prices, including the dollar markets. "The paper points out that" the last time where he got the drop in oil price to the lowest level was in early 2009, but now says Christine Lagarde, head of the International Monetary Fund, it is likely that low oil prices remain for a long time. " . The newspaper reports that the Organization of Petroleum Exporting Countries (OPEC) meets twice a year, but its last meeting in December / December ended in deadlock, and a split among its members on production targets, while the struggling Saudi Arabia and Iran for dominance on market share in the world.

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