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Fitch: OPEC agreement supports the slow recovery of oil prices
2016/09/29 | 22:20
(Encyclopedia of the Day News | Iraq News ) - directly: Fitch credit ratings , said that OPEC members agreement supports previous forecast continuing recovery in oil prices, but it is slow and is not a strong recovery, according to a report.
She explained Fitch in its report today, OPEC Touselo members yesterday in their last meeting in Algiers to reduce the target to between 32.5 and 33 million barrels per day of production to accelerate the ongoing withdrawal from inventory accumulation and re-balance, and to achieve stability in the oil market, that the organization consider the results in meeting next November 30 in Vienna.
The report also pointed out that this decision reduces the risk of falling oil prices and enhances its forecast since the beginning of the year to price stability and the continuation of the recovery.
Fitch added that reaching an agreement between the members of the organization confirms its previous forecast that the average price of Brent crude up to $ 45 a barrel in 2017, and WTI to $ 55 a barrel in 2018.
http://hathalyoum.net/1114690
She explained Fitch in its report today, OPEC Touselo members yesterday in their last meeting in Algiers to reduce the target to between 32.5 and 33 million barrels per day of production to accelerate the ongoing withdrawal from inventory accumulation and re-balance, and to achieve stability in the oil market, that the organization consider the results in meeting next November 30 in Vienna.
The report also pointed out that this decision reduces the risk of falling oil prices and enhances its forecast since the beginning of the year to price stability and the continuation of the recovery.
Fitch added that reaching an agreement between the members of the organization confirms its previous forecast that the average price of Brent crude up to $ 45 a barrel in 2017, and WTI to $ 55 a barrel in 2018.
http://hathalyoum.net/1114690
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