Expectations of a significant rise in oil prices over two months to exceed $ 50

[ltr]Expectations of a significant rise in oil prices over two months to exceed $ 50[/ltr]

 Since 11/21/2016 16:43 pm (Baghdad time)
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[ltr]Follow-up scales News[/ltr]
[ltr]Oil prices rose by nearly 1% on Monday, with the approach of "OPEC" to complete the agreement on production, reduce the surplus of petroleum products, which has caused over the past two years to maintain the low price of oil, rose engagements futures price for Brent 49 cents, or about 1.05%, bringing the price of a barrel to $ 47.4.[/ltr]
[ltr]He predicted economist Nasser Yousef, on Monday that oil prices will rise in global markets significantly in the coming period, with a reach "OPEC" to a final agreement on the reduction of world oil production, particularly by the major producing countries and oil exporters, such as Russia and Saudi Arabia, to bypass the barrier of $ 50, within two months at the most.[/ltr]
[ltr]Yusuf explained that the increase in oil reserve supply in the market during the past two years, sharply causing the drop in oil prices on the global crisis, and the reason for this is due to the increased supply in exchange for the lack of demand, a radical economic base, the more the supply has increased and say demand prices fell, The smaller supply than demand and increase prices.[/ltr]
[ltr]The economist said that "APEC" countries confirmed their quest to reduce energy consumption by 45% by 2035, and doubling the share of renewable energy resources in the regional energy balance by 2030, which means a tremendous shift in the path of energy prices, especially with the announcement of its intention to states phasing out the use of ozone-depleting energy resources.[/ltr]
[ltr]He praised Joseph declaration of Russian President Vladimir Putin on Monday that Russia is ready to freeze oil production at the current level, pointing out that it does not cause any damage, but on the contrary will lead to the improvement of the global market and its recovery, and raise prices, and thus will shrink the global crisis caused by the a wave of low prices during the past two years. President Putin said in his press conference at the conclusion of the summit of Asia-Pacific Economic Cooperation, "APEC", held in Lima, capital of Peru, "As regards the next" OPEC "meeting and our position, it is still without any change. We have confirmed repeatedly that we are ready to freeze oil production at the current level for him. We do not see any damage for the energy sector in our country. " The informal meeting of the countries, "OPEC" and resulted in late September / September last in Algeria, to agree to cut production to 32.5 - 33 million barrels of oil a day, but there is no agreement on specific quotas for each country of the OECD countries so far, and is expected to the final decision shall be taken in this regard at a meeting Vina.onthy 29 / tc n[/ltr]


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