OPEC calls to reduce the inventory of oil surplus

by lonelyintexas Mon 25 Jan 2016, 3:03 pm

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OPEC calls to reduce the inventory of oil surplus

by lonelyintexas Mon 25 Jan 2016, 3:03 pm

OPEC calls to reduce the inventory of oil surplus

01/25/2016 15:44 pm (Baghdad time)

OPEC calls to reduce the inventory of oil surplus Z

Scales News - Follow-up

Abdullah al-Badri called on the Secretary-General of the Organization "OPEC", on Monday, to reduce the inventory of surplus oil.

Badri said on Monday that it "is important for the market to address the issue of inventory glut, and as soon as this satiety start shrinking prices start to rise after that."

Badri added that "in view of how the evolution of this he would have to deal with it as something addressed by countries inside OPEC and outside OPEC pumped Yes together some of the additional supplies last year, but the bulk of this came from countries outside the Organization."

The Secretary General of the Organization "OPEC" that "it is necessary to sit all the major oil-producing countries in order to reach a solution, as the market needs to reduction of stocks to levels that will allow the recovery of prices and the return of investment," noting that "the current environment puts the future stake in the current price levels, it is clear that all the necessary future investments will not be viable ".

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It looks like they will have a meeting to get oil prices up. That's good so Iraq can meet their 45.00 a barrel for the budget.
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