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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


2 posters

    OPEC" warns: oversupply will reach 720 thousand barrels in 2016

    Rocky
    Rocky
    Rocky
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    Admin Assist


    Posts : 281112
    Join date : 2012-12-21
    • Post n°1

    OPEC" warns: oversupply will reach 720 thousand barrels in 2016 Empty OPEC" warns: oversupply will reach 720 thousand barrels in 2016

    Post by Rocky Thu 11 Feb 2016, 11:15 am

    OPEC" warns: oversupply will reach 720 thousand barrels in 2016


    2/11/16

    Oil prices rose after Iran said it was open to cooperation with Saudi Arabia, to offset raw some of the losses suffered in the previous session, when it fell 8 percent on concerns about demand and lower stocks. 
    And it remained low trading volumes in Asia, where the Chinese market is closed throughout the week on the occasion of the Lunar New Year holiday, while South Korea's stock market closed its doors, and closed its doors in Japan's stock market holiday on Thursday. 
    Crude prices have received support from the Iranian oil minister's remarks, in which he said that Tehran was ready to negotiate with Saudi Arabia on the current situation of global oil markets. 
    The price of the global measurement Brent crude futures maturity of dollars a month to $ 31.32 a barrel by 0850 GMT. 
    The Brent contract had plunged Tuesday to a fourth straight session, ending the day down to $ 2.56 a barrel, or about 7.8 percent. 
    US crude rose in futures for March delivery 54 cents to $ 28.48 a barrel. Crude futures fell 5.9 percent Tuesday to close lower by $ 1.75 per barrel. 
    For its part, it indicated the Organization of Petroleum Exporting Countries (OPEC) that the excess oil supply on the world market will rise this year than previously expected, at a time when Saudi Arabia is pumping and other members of the organization more oil to offset the decline in the production of non-Member States affected by the falling prices. 
    The «OPEC» in a monthly report yesterday, citing secondary sources that the organization pumped 32.33 million bpd in January, up 130 thousand barrels per day in December. 
    The increase in «OPEC» production at a time when the organization expects a slower pace of demand growth in 2016 is higher than the largest contraction slightly-than-expected supply from non-Organization. 
    It indicates «OPEC» report that the oversupply will reach 720 thousand barrels per day in 2016 if the organization continued pumping at a rate in January, up from 530 thousand barrels a day last month's report.



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    lonelyintexas
    lonelyintexas
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    • Post n°2

    OPEC" warns: oversupply will reach 720 thousand barrels in 2016 Empty Re: OPEC" warns: oversupply will reach 720 thousand barrels in 2016

    Post by lonelyintexas Thu 11 Feb 2016, 1:23 pm

    Well according to this article sounds like oil will be going even lower.  Low gas prices are great, but it's not helping our cause.  Iraq needs 45.00 a barrel for oil to make their budget.
    Thanks
    LIT
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