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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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    In the transformation of the situation .. Saudi Arabia have indicated their willingness to cut oil p

    rocky
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    • Post n°1

    In the transformation of the situation .. Saudi Arabia have indicated their willingness to cut oil p Empty In the transformation of the situation .. Saudi Arabia have indicated their willingness to cut oil p

    Post by rocky Sat 24 Sep 2016, 4:22 am

    In the transformation of the situation .. Saudi Arabia have indicated their willingness to cut oil production on one condition

    Friday 23-09-2016 | 7:10:36







    In the transformation of the situation .. Saudi Arabia have indicated their willingness to cut oil p Opec-650x360
    XYZ
    Twilight News / three-informed sources said that Saudi Arabia has offered to reduce its oil production if approved by rival Iran to install production this year, including a compromise ahead of the talks in Algeria next week.
    Sources that stipulated condition of anonymity said that the offer, who was not accepted or rejected by Tehran so far - was presented this month.
    The sources said that Riyadh was ready to cut production to the lowest levels reached early this year in return for Iran to install the production at the current level of 3.6 million barrels per day.
    One source said, "They (the Saudis) are ready to cut, but on Iran to agree to the installation."
    Two other sources confirmed the offer to Iran.
    The first source did not disclose the amount of the cuts Disclaimer Riyadh if Iran agreed to install its production at 3.6 million barrels per day, a member of the Organization of Petroleum Exporting Countries producing state average (OPEC) over the last three months.
    And increased production of Riyadh since June because of the demand in the summer to reach a record level in July at 10.67 million barrels per day before falling to 10.63 million bpd in August.
    In the period from January until May, Saudi Arabia produced about 10.2 million barrels a day.
    Two sources said that it is expected that the allies of the Gulf kingdom OPEC involved the United Arab Emirates, Qatar and Kuwait who are in any reduction of production if an agreement was reached.
    The sources said that Saudi Arabia is OPEC's largest producer would bear the biggest cut.
    This could be the display is a shift in Riyadh's position that led the current OPEC policy in 2014 by refusing to cut individual production to support prices and opted to defend their market share in the face of competitors, especially the high cost owners.
    The fall in oil prices to between 30 and 50 dollars a barrel from $ 115 a barrel in June 2014 to strengthen the global demand for oil and lower the high cost of supplies coming from the United States, such as those.
    But Saudi Arabia strategic caused a rift in OPEC, whose members faced a crisis in the poorer balance disorders. And Riyadh and its allies forced Gulf to rationalize their expenses after ten years of generous public spending.
    With the intensification of suffering from low oil prices and the growing pressure on public finances Arabia hinted Riyadh and Tehran to their willingness to show more flexibility in order to support prices.
    However collapsed first attempt to reach a global agreement on production in April when Riyadh insisted on the participation of Tehran. Iran has said it will not join any such agreement to regain market share and enhance production to levels before, amounting to about four million barrels per day penalties.
    OPEC members will meet on the sidelines of the International Energy Forum, which includes producers and consumers in Algeria during the period from 26 to 28 September. And Russia will attend a non-member of the Organization Forum as well.


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