Editor: BK, HH 26/09/2016 16:54 Number of Views: 585
Newspaper (Wall Street) US confirmed on Monday that the renewed hopes for the possibility of oil-producing countries an agreement to freeze production at a meeting to be held in Algeria this weekend, raising the price of crude benchmark to between 45 to 47 in the global markets, while stressing that producers still they are under growing pressure to take action to support prices and reduce the surplus.
The Wall Street Journal newspaper (The Wall Street Journal US) in a report, I followed (the long-Presse), said that "a rise in the Brent crude price indices and West Texas World in trading stocks today," usually said that "renewed hopes for the possibility of reaching top oil producers global agreement to freeze production rates to support the price of crude, during their meeting in Algeria next Wednesday (28 September now 2016), at a time when analysts believe that the Organization of Petroleum exporting countries (OPEC), under increasing pressure to make a move to support prices. "
He said the Wall Street Journal, that "Brent crude, which is a global standard that is based on it to calculate the price of oil, rose by 1.5 percent in trading for the London Stock Exchange on Monday, bringing its price to $ 47.18 a barrel, while the price of West Texas crude the US rose 1.3% in New York Stock Exchange trading, bringing its price to $ 45.05 a barrel. "
And followed the Wall Street Journal, that "the price of oil had fallen by four percent last Friday (23 September) the current, according to the New York Stock Exchange, after it said Saudi Arabia that it does not expect to reach the members of OPEC and other oil-producing countries, such as Russia, an agreement to freeze production rates at their consensus, on Wednesday, on the sidelines of the international energy Forum, held in Algeria. "
The newspaper quoted, for analysts, the expectation that "OPEC members still are under growing pressure to take action to support global oil prices."
Analysts said the Aanerjee Aspkedz Foundation of British economic consultancy, according to Wall Street, said that "OPEC members should, in any case, to diminish their production rates if they want to improve the price situation," Adin that "OPEC failed to reach an agreement will keep on increasing production surplus that has accumulated in the market during the past two years. "
It is said that Iraq, declared repeatedly during the last period, support for the freeze oil production for "specified period" in order to raise crude prices.
OPEC members will meet in Algeria, on the sidelines of the International Energy Forum, during the period from the 26th until the 28th of September now, to discuss the possibility of reducing production to support prices.
Little Brent or Brent, is the crude oil used as a standard two-thirds of the world's oil production for the pricing, especially in the European and African markets, and consists Brent oil blend of 15 different fields in the regions of Brent and Tinian (some of them located in the United Kingdom and one in Norway), which together produce about 500 thousand barrels per day, and is one of the types of oil light because of the quality of 38 degrees and weight, and lower the sulfur content of up to 0.37 percent, and building on the differences between him and other raw materials, it is generally sold at a higher price of oil OPEC basket about dollars per barrel, and the price less than WTI about $ also, it uses the value of two-thirds of world imports rolling out of crude oil pricing.