Expectations of a price range for oil between $ 50 and $ 60 a barrel

by **Rocky** Thu 20 Oct 2016, 3:05 am

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Expectations of a price range for oil between $ 50 and $ 60 a barrel

by Rocky Thu 20 Oct 2016, 3:05 am

Expectations of a price range for oil between $ 50 and $ 60 a barrel

20/10/2016 0:00

[rtl]BAGHDAD / Shokran Fatlawi / Farah pumice
with scheduling a meeting of Petroleum Exporting Countries "OPEC" in the Austrian capital ofVienna on the thirtieth of November next, revealed expectations for a price range for crude between $ 50 and $ 60 a barrel over the next year, along with other forecasts indicate reaching an agreement between the oil -producing countries on market stability.
on this subject expressed economic expert , Dr. Ahmed Abrihi optimism that theOrganization of Petroleum Exporting reach and cooperation with Russia to freeze production, pointing out that in the event of their agreement on it will begin the surplus todecline gradually, and at the end of 2017 will reach surplus to around 1.2 million barrels.He Abrihi in an interview for the "morning" the price of oil actually the $ 50 and thebypass has risen, and this scale is the best level since mid - 2015, saying: If hecontinues this improvement, so up the price of oil to $ 70 in the first quarter of 2017, it helps Iraq much. The price of a barrel of Brent crude to $ 51.68 a barrel, while the price of raw materials «OPEC» was $ 46.70 a barrel.
On the possibility to continue the price of oil to rise from the decision taken by OPEC incooperation with Russia, Abrihi pointed out that the agreement possible also improve price is also possible.
he continued , saying: we can not be certain that the surplus in the oil market , forexample , will drop in the next month, adding that accountability depends on the Is that the agreement would only be to freeze production or some states will take the initiative to reduce the output bit? , Stressing: But if there is no agreement , it is likely that thesurplus up to more than two million barrels per day. Crude prices have surged almost 13 percent since the Organization of the Petroleum Exporting Countries suggested on September 27 to cut production or install her first in eight years time to contain theoversupply the
world.
For his part, oil expert Aqil al - Saadi explained that Iraqi oil revenues , the current divided eventually into three parts, first is the largest to support the state treasury and the second as receivables for companies operating third the cost of production, extraction and maintenance segment.
He said al - Saadi to the importance of knowing the citizens how to split the fiscal revenue final real price at which enters the state treasury, for example , if the sale ofbarrels of Iraqi crude oil price of $ 40, the net what enters as income will not exceed in the best cases to $ 30, he says.
also pointed out that Iraq sells oil in a way contracts Term contract, to deal with theserious customers and steadfast and reliable in determining its price up and down depending on the quality of the oil, especially that he sells in three markets are East Asia, Europe and Americas , so find the price of Iraqi oil ultimately less than theadvertised price globally by varying value at $ 30 , the sale of oil, Iraq 's oil has been sold dollars with 24, and therefore , it can not rely on global prices, but on as illustrated by the Ministry of oil end of each month minus dues companies the cost of production and others.
to Deputy Kuwaiti Prime Minister and Finance Minister and Acting oil Minister Anas Saleh announced that there are expectations for oil prices to range between $ 50 and $ 60 a barrel during the 10 or the next 15 months, pointing out that it logical and acceptable expectations.
came Saleh 's remarks on sidelines Sheikh Ahmad Al - Jaber Gallery oil of the Kuwait oil company.
He was good optimism about the possibility of reaching an understanding over the next "OPEC" meeting to be held in Vienna, pointing to the difficulty that lasts current oil prices and the abolition of investments will help the supply and demand equation and reach acceptable prices .
for his part , announced the head of "Gazprom oil" Russian, Alexander Dyukov, that thechances of reaching agreement between the oil - producing countries about the stability of the market has become the largest, now, than it was a year ago.
he said Dyukov in a press statement: "I would point out that chances of reaching the largest conventions, now, than it was a year ago. " Dyukov said the freeze on the level of oil production will ensure the growth of prices, but it would be so intangible because of the backlog of existing crude reserves.
He pointed out that "if we tried to simulate a situation, what can happen in the event ofreach" OPEC "countries , an agreement on freezing or reducing the size of theproduction, I believe that this will give a certain boost. I do not think that this rise in oil prices would be a great, due to the fact that at the present time we have accumulated alarge surplus in the market stock. in order to accommodate the market this surplus should be some time. "
in the meantime, announced the American Petroleum Institute that US inventories of crude fell unexpectedly last week while gasoline stocks rose and fell distillate stocks.
fell US crude stocks of 3.8 million barrels over the week to 467.1 million , compared with analysts ' forecasts that more than 2.7 million barrels. Zkrmahd oil and crude stocks at the delivery point of Cushing , Oklahoma fell by two million barrels.
Gasoline inventories rose 929 thousand barrels while analysts forecast in a Reuters poll to fall 1.3 million barrels. The Petroleum Institute data showed a decline in distillate stocks , which include diesel and heating oil , 2.3 million barrels compared toexpectations that the drop of 1.6 million barrels.[/rtl]

[rtl]http://www.alsabaah.iq/ArticleShow.aspx?ID=125157[/rtl]

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Established in 2006 as a Community of Reality

Established in 2006 as a Community of Reality

Expectations of a price range for oil between $ 50 and $ 60 a barrel

Expectations of a price range for oil between $ 50 and $ 60 a barrel

Expectations of a price range for oil between $ 50 and $ 60 a barrel

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