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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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    Merrill Lynch confirms end of the war within OPEC and its outlook remains negative

    rocky
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    Merrill Lynch confirms end of the war within OPEC and its outlook remains negative Empty Merrill Lynch confirms end of the war within OPEC and its outlook remains negative

    Post by rocky Fri 09 Dec 2016, 2:55 am

    Merrill Lynch confirms end of the war within OPEC and its outlook remains negative




    2016/12/08 | 23:21

    (Encyclopedia of the Day News | Iraq News ) - directly: Merrill Lynch said the financial research and wealth management in a report that the sharp decline in oil prices over the past few years may be partly attributed to theso - called price war within the cartel, and that the war seems to be over.

    She said Merrill Lynch in its report issued today that the important OPEC agreement to cut production at the end of November last year, it's happening for the first time eight years ago, and that the countries outside OPEC Home and led Russia also accede to the agreement for the first time since 1998.

    Predicted Merrill Lynch compliance is stronger than the previous agreements, the different country allocations, as well as the appointment of an independent commission to monitor the production part of the agreement.

    The report also said that the OPEC agreement could push global oil market deficit may soon be in the first quarter of next year, and it expected to keep oil prices of Brent and WTI crude oil unchanged at levels of $ 61 and the $ 59 a barrel, respectively .

    And projected Merrill Lynch in its report on the glass half empty, despite expectations of growth in global oil demand, it believes that could fall with the movement of US interest rates to higher rates and the decline in the value of the Chinese yuan, as well as the possibility of liberation of some Member States and Russia from this agreement, and there is also the possibility of production faster than expected from countries outside this unlikely alliance growth.

    The report supported the view of negative expectations about the increase of crude oil production in the United States to consider, to 9.2 million barrels per day by the end of 2017.

    The OPEC meeting ended on Nov. 30 agreement mandating reduction of daily production of its members by about 1.2 million barrels to 32.5 million barrels at the beginning of January next year, and the recommendation of the members that the agreement be for a period of six months, extendable, and the establishment of a monitoring committee to monitor the implementation of this agreement and comply with it. and it attests that the oil futures price rise since the agreement at the end of November and so far at 7:25 pm GMT Jrench-, step up Brent crude to $ 7.44 and increased by 16.04%, to $ 53.82 a barrel next January delivery, rises as well as American WTI 5.53 dollars increased by 12.23%, to $ 50.76 a barrel.

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