Optimism a recovery in the oil market
[rtl] Morning - Shokran Fatlawi
decline in world oil prices , mainly due to the surplus quantities and slowing global demand growth, and is expected to specialists in the oil regard that the market will see abalanced largest by 2017 the fact that global stocks will start to decline by the second half of the year 2016 , including price supports more with the approach the end of theyear.
on the same level , expressed the Minister of energy and Industry of Qatar , who heads the current session of the Organization of petroleum exporting countries «OPEC», optimism about a recovery in the oil market, expected to return to balance in the second half of the current year
, he said « the market is going in the right direction, and is expected to return to balance in the second half of this year , »
said« the second quarter of this year saw a marked increase in global demand for oil as a result of an increase in demand for its products »especially gasoline, likely to« continue to rise at rates greater from next month with the start of the season travel and increasing demand for motor fuel. »
the OPEC, and its most prominent members Saudi Arabia, it has refused in recent months to cut production in an effort to restore some stability to prices crumbling, and this is the position that Riyadh was the most prominent claimants do, caused by the fear of losing the OECD share of the global market for the benefit of senior producers from outside, where he did not reach 16 ministers of «OPEC» and outside, in the overall product of the oil their countries towards global half of the total, an agreement to freeze production at certain levels, in an effort to boost the price to reach a reasonable level rather than low rates that prevailed during the months years.
It is scheduled that OPEC will hold its next meeting in Vienna on the second of next June to discuss the status of the oil market and expectations for the future[/rtl]
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