Abdul-Mahdi is expected to decline in oil prices to $ 30 a barrel because of the failure of the Doha meeting
Baghdad / term
He Abdul - Mahdi, in a statement received "long" version of it, that "OPEC producing countries from outside did not work on Sunday to agree to freeze the production of states at January 2016 levels, after Saudi Arabia insisted that freezes Iran also produced, while Tehran refused to do so the meeting did not attend, which led to lower prices to $ 41 a barrel, after it was up to $ 44 , "expected to" prices continue to decline, to settle dollars And30-35 a barrel this year. "
said Abdul - Mahdi , that" the 18 nations that met in Doha controls 50% of world oil production of around 93-94 M.b.a , "noting that" Iran strongly rejects freeze the current production (3.2 M.b.a), and aspires to reach 4 million barrels in April 2017, and it refuses to adhere to the policy considers new sanctions after their exit from the nuclear issue sanctions. "
He pointed out that" the production of Russia and Saudi Arabia combined oil amounts to about 25% of global production by 11 M.b.a for the first and 9.8 M.b.a for a second . " adding that " the two parties enthusiastic freeze what might achieve the benefits of the high prices, As for Iraq, freezing production and the relative increase of prices was help him in the financial crisis, without compromising the plans produced, was able obligation to freeze , which he would have taken January production line start, which was 4.775 M.b.a including Kurdistan production, a figure that ensures Iraq achieve production rates of assessments for theyear as agreed with foreign companies at the end of 2015 plans. "
confirmed Abdul - Mahdi , the" whole - producing countries affected by the failure of the Doha meeting, albeit in different proportions , nations of diverse economies will suffer less , but may check certain benefits, the United States has lost, according to "Blomberk" $ 300 billion in 2015 due to low prices , but America can make up for it because of the diversity of its economy, with the sector constitutes only a proportion of 1.76% of GNP , Russia Fajsartha greatest as the sector represents 16.4% of the total gross national product, while will be greater damage in countries that rely on oil for their budgets and national output and exports, which states " the OPEC."
He revealed Abdul - Mahdi , that "excess supply and high inventories will continue with the continued entry anadditional 1-2 million barrels a day, the pressure on prices negatively, with the entry of more Iranian oil and the possible return of Libyan oil , "adding that" the temporary downtime due to strikes exports of Kuwait (2.85m.b.a. production) will not partially or totally affect . "
Abdul - Mahdi , and pointed out that" prices will improve in case there was a real reduction of production, or areal increase of demand and the return of global economies growth rates, especially China , as the second consumer in the world, or the closure of more shale oil fields , which is the heart of oil equivalents. "
prices fell oil, last Monday, to less than $ 41 after major oil producers failed to agree on freezing production, after the postponement of the talks session on Sunday , more than once, before these prices resume rise again on Tuesday to $ 43.66.