Oil prices exceed $ 45 a barrel and producers seek to strengthen

[ltr]Oil prices exceed $ 45 a barrel and producers seek to strengthen[/ltr]

 Since 08.10.2016 at 09:43 (Baghdad time)
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[ltr]Follow-up scales News[/ltr]
[ltr]Crude oil prices rose and remained above $ 45 a barrel yesterday, while outweighed forecasts for lower US inventories and speculation of a move to strengthen producers prices in front of fears resulting from oversupply in the market.[/ltr]
[ltr]Traders predicted that total US crude stocks fall by one million barrels in weekly reports to monitor stocks despite the fact that the company "Zhinskab" market information pointed to an increase of more than 307 thousand barrels in the "Kasheng" station to deliver US crude in Oklahoma.[/ltr]
[ltr]And increased the global price of Brent crude blend "Brent" in the futures October delivery (October) 13 cents to $ 45.52 a barrel.The crude closed higher on Monday of $ 1.12. And landed "Brent" prices of about 15 percent through July.[/ltr]
[ltr]And went up the price of WTI US mediator in the September contract (September) 21 cents to $ 43.23 a barrel.[/ltr]
[ltr]According to sources in the "OPEC" since June, that new talks to install crude production in the world markets may be held in September, while most of the "OPEC", Russia and members of the participating non-member of the organization at a meeting of the International Energy Forum in Algeria.[/ltr]
[ltr]He said Venezuelan Oil Minister Aaolockheo del Pino said a meeting between producers within the Organization of Petroleum Exporting Countries (OPEC) and outside may take place "in the coming weeks" but Russia's largest producer of crude in the world has said it sees no justification for new talks with OPEC, while Iran did not talk about what you if you will cooperate in any new effort after they refused to join the initiative discussed earlier this year to install production levels.[/ltr]
[ltr]He predicted, "Goldman Sachs" Bank Audi's oil products market to balance by 2017 and improved refining margins then after landing in the second half of this year. He felt "that the demand for oil products is good and is likely to remain strong."[/ltr]
[ltr]The bank raised its forecast for world demand for crude this year from 1.4 to 1.5 million barrels per day, while its forecast for demand slightly reduced in 2017, from 1.3 to 1.2 million barrels per day.[/ltr]
[ltr]On the other hand, the sources pointed out that the company "BP" British giant global oil sector, asking buyers for its 50 percent in the Chinese joint petrochemical project is the largest single investment in China in a deal that will bring the company between two billion and three billion dollars.[/ltr]
[ltr]The sources said that "BP" appointed investment bank to sell its stake in «SE CC or" part of a plan to exit from activities that are not under their control. The implementation of a successful deal to be the first major exit for the company with investment in China.[/ltr]
[ltr]The "SE CC or" located in Tsauqing near Hnahaa is the largest refinery and petrochemical production cost generated $ 2.7 billion, according to the website of the company "BP."[/ltr]
[ltr]The site that the Chinese government and a subdivision company "Sinopec" that own the other half of «SE or CC.» The result of the project, which was founded in 2001, ethylene and propylene, which are used for the manufacture of resins, plastics and synthetic rubber.[/ltr]

[ltr]While «Sinopec» have the right of preference, which allows it to reject the potential sale process, bankers said that it is unlikely to advance state-owned Chinese companies to buy the stake as executives at many of these companies are facing investigations into charges related Balvesad.anthy 29 / D 24[/ltr]


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