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Bamufad: News Doha meeting lifted oil prices above $ 41


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Bamufad: News Doha meeting lifted oil prices above $ 41

Post by rocky on Sat 19 Mar 2016, 4:28 am

Bamufad: News Doha meeting lifted oil prices above $ 41

 Moscow, London, Singapore / Reuters 

A barrel of oil rose above $ 41 a barrel , near its highest level since the beginning of theyear, due to be held between some of the top producers in the world next month to discuss the market to support the meeting. The oil exporter Saudi that the Kingdom fully supports the oil producers of the initiative for themeeting in Doha on 17 April. 
Ascended «Brent» 51 cents to $ 40.84 a barrel, and was at its highest level since thebeginning of the year on 8 March , when the price of a barrel to $ 41.48. Rose US crude 62 cents to fetch up to $ 39.08 a barrel. The news agency quoted Russian Energy Minister Alexander Novak, he did not believe that it makes sense to target higher than 50 the price to $ 60 per barrel of oil. The official data showed rising Saudi Arabia 's crude oil exports in January (January) to 7.835 million bpd from 7.486 million in December (December). The UK has produced 10.23 million barrels per day in January , a record level compared to 10.144 million in the previous month. The decline in domestic crude oil reserves in Saudi Arabia to 314.119 million barrels in January from 325.474 million a month ago. , The energy minister said in Kazakhstan, Vladimir Shkolnik, that his country had not yet received an invitation to attend the meeting which will be held on 17 April next year in Doha . He added: «There is no formal invitation» pointing out that his production cuts already in place . On the other hand, the company «Gulf Keystone Petroleum , » declared that Iraq 'sKurdistan Regional Government still owes it an amount of $ 178 million in exchange for oil exports , and costs related to the field Sheikhan. The company announced the oil producers incurred losses amounting to $ 135 million in 2015 versus 248 million in the previous year. She pointed out that Sheikhan field production may begin to decline this year , if it is available to them between $ 71 million and $ 88 million to be invested in thefield , and its partners and the government did not agree to the plan quickly. In a related development, thetwo companies «Shell» and »Aramco» Saudi Arabia announced plans to split the company «Motiva Anterpraiser» and the separation of assets, after nearly two decades of US joint venture oil refinery and distribution of its product configuration. showed statement under the letter of intent is not binding that «Aramco» will retain the name of «Motiva» and become the sole owner of the refinery , Port Arthur , Texas, is the largest refinery in the United States also will retain 26 stations for distribution. He added that they also will have the exclusive license to use the trademark «Shell» in the sale of gasoline and diesel in the Texas markets and the majority of the valley of the Mississippi and the South East and Mid - Atlantic. Furthermore, concluded research conducted by «International Renewable Energy Agency» to double the share of renewable energy in the various energy global market to 36 percent by 2030, it could provide the global economy up to $ 4.2 trillion annually. And it provided renewable energy such as solar energy, generated from wind around 18 percent of global energy consumption in 2014, according to the policies of the existing nations now will increase its share to 21 percent in 2030. The report noted that the cost of doubling renewable energy by 2030 will reach $ 290 billion in year, but the annual savings total size of the output of the reduction of pollution and emissions and their impact on human health and agriculture would be between 1.2 and 4.2 trillion dollars. onthe other hand continued to barrel crude oil prices rise, today, in the Asian markets after the jump resulted from a clear impact of the weak dollar and hopes the reduction coordinator for the show. the price of a barrel «reference light sweet crude» (Sweet light infraction , ) delivered in April (April), in electronic Asian trade, 40.31 dollars , up 11 cents. the price of a barrel of crude «Brent» European Reference delivery in April (April ), 41.56 dollars , up two two years. after the price of a barrel of crude fell to its lowest level in 13 years in February last February, rebounded in recent weeks on the back of hopes of obtaining an agreement between major oil producers to limit supply. One reason for the rise may also choose US central bank to wait about normalizing its monetary policy. The impact of this weakening of the dollar, boosting the price of a barrel ofcrude , which is priced in US currency because it becomes more attractive to investors. US crude and Cansar jumped five percent to more than $ 40 a barrel, thanks to optimism regarding the top producers meeting next month in Qatar to discuss supporting the market, and in With a significant rise in demand for gasoline in theUnited States. The dollar fell after the statement «Fed» (US central bank) yesterday, which reduced expectations of higher interest rates in June Solutions (June). And it reduces the dollar 's decline from the cost of goods denominated in US currency to holders of other currencies which oil supports. And stepped Futures US oil to $ 1.74 or 4.52 percent at the settlement today, to $ 40.20 a barrel after the highest level in 2016 recorded at $ 40.26. Ended Futures for «Brent» high the session of $ 1.21 or three per cent to $ 41.54 a barrel after also recorded the highest price in 2016 at $ 41.60. oil also gained strength from higher gasoline consumption and increased less than expected for US stocks, though «energy Information administration» US It said yesterday that crude inventories are still at a record level.

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