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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Oil rises but it is heading for the biggest weekly loss incurred and Putin is installing production

    Rocky
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    • Post n°1

    Oil rises but it is heading for the biggest weekly loss incurred and Putin is installing production Empty Oil rises but it is heading for the biggest weekly loss incurred and Putin is installing production

    Post by Rocky Sat 03 Sep 2016, 2:58 am

    Oil rises but it is heading for the biggest weekly loss incurred and Putin is installing production -1
    Oil rises but it is heading for the biggest weekly loss incurred and Putin is installing production right decision


     Reuters / New York-Moscow-Riyadh 

    Oil prices rose Friday, supported by a weaker dollar in the previous session and thestatements of Russian are in favor of installing production levels but crude futures remain on track to incur the biggest weekly loss in about eight months. 
    It is due to discuss the members of the Organization of Petroleum Exporting Countries (OPEC) Installation potential production again at an informal meeting in Algeria during the period between 26 and September 28 / September. 
    the increased International benchmark Brent crude futures 23 cents to $ 45.68 a barrel by 0840 GMT , but it is heading towards decline of 8.5 percent over the week in the largest weekly loss since mid - January. 
    the price of WTI US mediator in the Futures 19 cents to $ 43.35 a barrel , heading to incur a weekly loss rate of nine percent. the 
    dollar was steady against a basket of currencies on Friday , but he saw on Thursday and one of the worst meetings in the two weeks after the contraction is expected to strip the US manufacturing sector was overshadowed by the strength of the US economy , the biggest oil consumer in the world. 
    investors are awaiting the release of the jobs data in the US non - farm payrolls later on Friday for guidance on the performance of the US economy and if strong data came , they would be considered factor enhances the chances of the US interest rate hike soon. 
    the interest rate rise to boost the dollar that may adversely affect the price of oil due to the high cost of theinitial item on the holders of other currencies. 
    despite Putin 's remarks on Friday there is a growing skepticism among traders that oil producers agree to install production during the current month 's meeting. 
    Hans Van Cleef economic expert on the affairs of the oil ABN "is the most likely scenario and said that there would be a freeze on the growth of production whatsoever." 
    in a related development , Russian President Vladimir Putin said, " the oil exporters agreement the installation of crude production would be the right decision , the global oil market and that Iran must give up in order toreach an agreement. " 
    the failed attempts by the Organization of Petroleum exporting countries (OPEC) and producers from outside to reach an agreement on the installation of production levels earlier this year because of the reluctance ofIran to participate in a forward to increase its exports after lifted international sanctions. 
    Putin said in an interview with Bloomberg published by the website of the Kremlin , "I think it is the economic benefit and logic gate would be right to find a compromise" over Iran 's production. 
    "I hope very much to take All participants in this market, who want world prices fair and stable energy resources, necessary decision in the end. " 
    he added that he would convey his position to the Crown Saudi Crown Prince Mohammed bin Salman , who may meet with him on the sidelines of the meeting of the Group of twenty in China early next week. the 
    agency quoted Putin as saying , "We were not of our refusal to install production levels , but its refusal toSaudis are our partners , who have changed their point of view at the last minute and decided to prudence in making this decision. 
    " If you talk to the Prince (Mohammad bin) Salman in this topic I shall certainly our position again and we believe it (install production levels) the right decision of World energy. " 
    it is scheduled to hold an informal meeting between OPEC and exporters from the outside in Algeria later this month. 
    as data from the Russian Ministry of energy showed that" the country's oil production amounted to 10.71 million barrels per day in August / August , down from 10.85 million bpd in July. " 
    production of Russia, arrived from gas to 45.29 billion cubic meters in the last month, or the equivalent of1.46 billion cubic meters per day, compared with 44.43 billion cubic meters per day in July. in 
    turn, the Minister Saudi Foreign Adel al - Jubeir, he was optimistic move oil producers towards a common position regarding crude production. 
    he Jubeir told reporters "we begin to hold a meeting place for ideas but there pursuance currently underway and we'll see what happens at the meeting of Algeria and I am optimistic." 
    It is scheduled to hold members of the Organization of Petroleum exporting countries (OPEC) held an informal meeting in Algeria on the sidelines of the international energy Forum to be held in the period between 26 and September 28 / September and is expected to seek through it to revive a global agreement to stabilize production levels. 
    collapsed last meeting on the stabilization of production in April in the Qatari capital Doha after it refused Iran freeze its production level as it seeks to regain market share after the lifting of sanctions. 
    he said Jubeir "eventually will control the supply and demand and market forces in the oil price, there may be some arrangements related thereto between producers, but not at the expense of Saudi Arabia. We abandon play the role of the product is likely more than 20 - year - old policy. " 
    " The proposals we have made ​​have not been implemented in the last meeting in Doha because of Iran 'sinsistence on getting a check egg now and I think that other producers are now seeing that the Saudi position is the right one . " 
    In the last week Iraqi Prime Minister Haider al - Abadi said that his country 's second - biggest producer in OPEC after Saudi Arabia will support any decision to freeze oil production levels in order to strengthen prices though Iraq 's oil minister has said before that his country wants to increase production. 
    sources in OPEC and the oil sector, told Reuters last month Iran is also sending positive signals that it may support joint action to strengthen the oil market.

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