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Oil prices fall below $ 04 a barrel
4/3/2016 0:00
[rtl] Riyadh BBC / AFP
collapsed oil prices on world markets to below $ 40 a barrel after Saudi Arabia announced that it will not reduce or stop oil production unless proceeded Exporting Countries president other on the same step. The
experts believe that the statements made the Crown , Crown Prince Mohammed bin Salman is a direct challenge to Iran , which has returned to oil markets after the lifting ofWestern sanctions against it.
in an interview with the Bloomberg channel the American son of the Saudi king and thedefense minister vowed at the same time that his country will invest huge sums of up to two trillion dollars to reduce its dependence economic proceeds of the sale of oil.
He explained that the Kingdom will sell its share of the equity in Aramco 's giant domestic oil company in successive steps will mostly 2017.
the Prince: Iran will not be present in Doha scheduled on 17 of this month a meeting to discuss the possibility of freezing production oil among the world 's largest exporters of crude countries, and also declared that if all the countries represented at the meeting made a decision to reduce or stop production would abide by the Kingdom of thedecision.
when asked whether it should be Iran is among the countries that are committed to thedecision , said: without a doubt, and after comments Prince Saudi oil prices fell immediately after the days of the start of the recovery progress, and dropped the price ofBrent crude oil 1.63 cents, or about 4 percent, bringing the price of a barrel to $ 38.70, and the price rose by 6 percent in the first three months of this year.
the agency quoted «AFP» Saturday , saying Iran is ready to participate in the meeting, but asked to be exempt from the freeze on production, at a time back in it again to theworld market after the lifting of sanctions over its nuclear program, according to Minister of energy Alexander Navak.
the Saudi Qatar, Venezuela and Russia announced in February an agreement on not toincrease production, pointing to retain the January levels, but doubts have emerged about the possibility of going beyond that.[/rtl]
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