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Expectations not to cut, "OPEC" for its oil production for fear of losing market shares
November 22, 2014 17:16 Last Updated: November 22, 2014 17:16
Two experts predicted PB Kuwaitis not to take the Organization of Petroleum Exporting Countries (OPEC) at its upcoming Nov. 27 decision to cut its oil production to curb the deterioration of prices for fear of losing market shares and because of the division of opinion among its members.
And saw two experts in separate meetings with the Kuwait News Agency (KUNA) today that the drop in prices will continue in the coming period, but they had agreed on the strength of the Kuwaiti economy and its ability to withstand price drop for about three years to come.
They explained that the time has come to work seriously on finding alternative sources of national income and not rely on oil almost the sole income source stating that the expansion in the acquisition of large projects secured inside and outside Kuwait has become a matter of urgency, especially in the field of high petrochemical industry profits.
He said oil expert and former director of research at the Organization of Petroleum Exporting Countries (OPEC), Hassan Qabazard The oil market is awaiting a meeting (OPEC) and Ttrqubh to reflect upon its decisions, saying that with the (OPEC) options at this meeting.
He Qabazard according to "KUNA" The first option for the (OPEC) is to leave the production ceiling as it is scheduled for 30 million barrels per day, with an emphasis on member states commitment to their quotas established what would cut production by about 600 thousand barrels per day, an increase produced by some countries Users without a commitment to its share in the (OPEC).
He said the second option in front of the international organization is to reduce the production as a whole without the 30 million barrels could be cut by about a million or two million barrels, but ruled out this option as supply in the market from outside countries (OPEC large) and in the growth and increase the mean loss Countries (OPEC) to parts of market shares.
He explained that the United States alone this year produced about one million barrels increase compared to last year in addition to an increase of some other countries outside OPEC to produce such as Brazil, Canada, China and others. Qabazard predicted that extends the negative impact of the oils with high cost is not in the current year, but over the next year, including the rocky and sandy and offshore oil.
As predicted, according to the Kuwaiti agency that the United States increase its output again by about 600 000 barrels next year, adding that the market is going to increase in production and an abundance of supply and if it reduced (OPEC) production Vstthrk other countries in the market and acquire customers.
Expectations not to cut, "OPEC" for its oil production for fear of losing market shares
November 22, 2014 17:16 Last Updated: November 22, 2014 17:16
3697654.jpg
Two experts predicted PB Kuwaitis not to take the Organization of Petroleum Exporting Countries (OPEC) at its upcoming Nov. 27 decision to cut its oil production to curb the deterioration of prices for fear of losing market shares and because of the division of opinion among its members.
And saw two experts in separate meetings with the Kuwait News Agency (KUNA) today that the drop in prices will continue in the coming period, but they had agreed on the strength of the Kuwaiti economy and its ability to withstand price drop for about three years to come.
They explained that the time has come to work seriously on finding alternative sources of national income and not rely on oil almost the sole income source stating that the expansion in the acquisition of large projects secured inside and outside Kuwait has become a matter of urgency, especially in the field of high petrochemical industry profits.
He said oil expert and former director of research at the Organization of Petroleum Exporting Countries (OPEC), Hassan Qabazard The oil market is awaiting a meeting (OPEC) and Ttrqubh to reflect upon its decisions, saying that with the (OPEC) options at this meeting.
He Qabazard according to "KUNA" The first option for the (OPEC) is to leave the production ceiling as it is scheduled for 30 million barrels per day, with an emphasis on member states commitment to their quotas established what would cut production by about 600 thousand barrels per day, an increase produced by some countries Users without a commitment to its share in the (OPEC).
He said the second option in front of the international organization is to reduce the production as a whole without the 30 million barrels could be cut by about a million or two million barrels, but ruled out this option as supply in the market from outside countries (OPEC large) and in the growth and increase the mean loss Countries (OPEC) to parts of market shares.
He explained that the United States alone this year produced about one million barrels increase compared to last year in addition to an increase of some other countries outside OPEC to produce such as Brazil, Canada, China and others. Qabazard predicted that extends the negative impact of the oils with high cost is not in the current year, but over the next year, including the rocky and sandy and offshore oil.
As predicted, according to the Kuwaiti agency that the United States increase its output again by about 600 000 barrels next year, adding that the market is going to increase in production and an abundance of supply and if it reduced (OPEC) production Vstthrk other countries in the market and acquire customers.
Expectations not to cut, "OPEC" for its oil production for fear of losing market shares
November 22, 2014 17:16 Last Updated: November 22, 2014 17:16
3697654.jpg
Two experts predicted PB Kuwaitis not to take the Organization of Petroleum Exporting Countries (OPEC) at its upcoming Nov. 27 decision to cut its oil production to curb the deterioration of prices for fear of losing market shares and because of the division of opinion among its members.
And saw two experts in separate meetings with the Kuwait News Agency (KUNA) today that the drop in prices will continue in the coming period, but they had agreed on the strength of the Kuwaiti economy and its ability to withstand price drop for about three years to come.
They explained that the time has come to work seriously on finding alternative sources of national income and not rely on oil almost the sole income source stating that the expansion in the acquisition of large projects secured inside and outside Kuwait has become a matter of urgency, especially in the field of high petrochemical industry profits.
He said oil expert and former director of research at the Organization of Petroleum Exporting Countries (OPEC), Hassan Qabazard The oil market is awaiting a meeting (OPEC) and Ttrqubh to reflect upon its decisions, saying that with the (OPEC) options at this meeting.
He Qabazard according to "KUNA" The first option for the (OPEC) is to leave the production ceiling as it is scheduled for 30 million barrels per day, with an emphasis on member states commitment to their quotas established what would cut production by about 600 thousand barrels per day, an increase produced by some countries Users without a commitment to its share in the (OPEC).
He said the second option in front of the international organization is to reduce the production as a whole without the 30 million barrels could be cut by about a million or two million barrels, but ruled out this option as supply in the market from outside countries (OPEC large) and in the growth and increase the mean loss Countries (OPEC) to parts of market shares.
He explained that the United States alone this year produced about one million barrels increase compared to last year in addition to an increase of some other countries outside OPEC to produce such as Brazil, Canada, China and others. Qabazard predicted that extends the negative impact of the oils with high cost is not in the current year, but over the next year, including the rocky and sandy and offshore oil.
As predicted, according to the Kuwaiti agency that the United States increase its output again by about 600 000 barrels next year, adding that the market is going to increase in production and an abundance of supply and if it reduced (OPEC) production Vstthrk other countries in the market and acquire customers.
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November 22, 2014 17:16 Last Updated: November 22, 2014 17:16
Two experts predicted PB Kuwaitis not to take the Organization of Petroleum Exporting Countries (OPEC) at its upcoming Nov. 27 decision to cut its oil production to curb the deterioration of prices for fear of losing market shares and because of the division of opinion among its members.
And saw two experts in separate meetings with the Kuwait News Agency (KUNA) today that the drop in prices will continue in the coming period, but they had agreed on the strength of the Kuwaiti economy and its ability to withstand price drop for about three years to come.
They explained that the time has come to work seriously on finding alternative sources of national income and not rely on oil almost the sole income source stating that the expansion in the acquisition of large projects secured inside and outside Kuwait has become a matter of urgency, especially in the field of high petrochemical industry profits.
He said oil expert and former director of research at the Organization of Petroleum Exporting Countries (OPEC), Hassan Qabazard The oil market is awaiting a meeting (OPEC) and Ttrqubh to reflect upon its decisions, saying that with the (OPEC) options at this meeting.
He Qabazard according to "KUNA" The first option for the (OPEC) is to leave the production ceiling as it is scheduled for 30 million barrels per day, with an emphasis on member states commitment to their quotas established what would cut production by about 600 thousand barrels per day, an increase produced by some countries Users without a commitment to its share in the (OPEC).
He said the second option in front of the international organization is to reduce the production as a whole without the 30 million barrels could be cut by about a million or two million barrels, but ruled out this option as supply in the market from outside countries (OPEC large) and in the growth and increase the mean loss Countries (OPEC) to parts of market shares.
He explained that the United States alone this year produced about one million barrels increase compared to last year in addition to an increase of some other countries outside OPEC to produce such as Brazil, Canada, China and others. Qabazard predicted that extends the negative impact of the oils with high cost is not in the current year, but over the next year, including the rocky and sandy and offshore oil.
As predicted, according to the Kuwaiti agency that the United States increase its output again by about 600 000 barrels next year, adding that the market is going to increase in production and an abundance of supply and if it reduced (OPEC) production Vstthrk other countries in the market and acquire customers.
Expectations not to cut, "OPEC" for its oil production for fear of losing market shares
November 22, 2014 17:16 Last Updated: November 22, 2014 17:16
3697654.jpg
Two experts predicted PB Kuwaitis not to take the Organization of Petroleum Exporting Countries (OPEC) at its upcoming Nov. 27 decision to cut its oil production to curb the deterioration of prices for fear of losing market shares and because of the division of opinion among its members.
And saw two experts in separate meetings with the Kuwait News Agency (KUNA) today that the drop in prices will continue in the coming period, but they had agreed on the strength of the Kuwaiti economy and its ability to withstand price drop for about three years to come.
They explained that the time has come to work seriously on finding alternative sources of national income and not rely on oil almost the sole income source stating that the expansion in the acquisition of large projects secured inside and outside Kuwait has become a matter of urgency, especially in the field of high petrochemical industry profits.
He said oil expert and former director of research at the Organization of Petroleum Exporting Countries (OPEC), Hassan Qabazard The oil market is awaiting a meeting (OPEC) and Ttrqubh to reflect upon its decisions, saying that with the (OPEC) options at this meeting.
He Qabazard according to "KUNA" The first option for the (OPEC) is to leave the production ceiling as it is scheduled for 30 million barrels per day, with an emphasis on member states commitment to their quotas established what would cut production by about 600 thousand barrels per day, an increase produced by some countries Users without a commitment to its share in the (OPEC).
He said the second option in front of the international organization is to reduce the production as a whole without the 30 million barrels could be cut by about a million or two million barrels, but ruled out this option as supply in the market from outside countries (OPEC large) and in the growth and increase the mean loss Countries (OPEC) to parts of market shares.
He explained that the United States alone this year produced about one million barrels increase compared to last year in addition to an increase of some other countries outside OPEC to produce such as Brazil, Canada, China and others. Qabazard predicted that extends the negative impact of the oils with high cost is not in the current year, but over the next year, including the rocky and sandy and offshore oil.
As predicted, according to the Kuwaiti agency that the United States increase its output again by about 600 000 barrels next year, adding that the market is going to increase in production and an abundance of supply and if it reduced (OPEC) production Vstthrk other countries in the market and acquire customers.
Expectations not to cut, "OPEC" for its oil production for fear of losing market shares
November 22, 2014 17:16 Last Updated: November 22, 2014 17:16
3697654.jpg
Two experts predicted PB Kuwaitis not to take the Organization of Petroleum Exporting Countries (OPEC) at its upcoming Nov. 27 decision to cut its oil production to curb the deterioration of prices for fear of losing market shares and because of the division of opinion among its members.
And saw two experts in separate meetings with the Kuwait News Agency (KUNA) today that the drop in prices will continue in the coming period, but they had agreed on the strength of the Kuwaiti economy and its ability to withstand price drop for about three years to come.
They explained that the time has come to work seriously on finding alternative sources of national income and not rely on oil almost the sole income source stating that the expansion in the acquisition of large projects secured inside and outside Kuwait has become a matter of urgency, especially in the field of high petrochemical industry profits.
He said oil expert and former director of research at the Organization of Petroleum Exporting Countries (OPEC), Hassan Qabazard The oil market is awaiting a meeting (OPEC) and Ttrqubh to reflect upon its decisions, saying that with the (OPEC) options at this meeting.
He Qabazard according to "KUNA" The first option for the (OPEC) is to leave the production ceiling as it is scheduled for 30 million barrels per day, with an emphasis on member states commitment to their quotas established what would cut production by about 600 thousand barrels per day, an increase produced by some countries Users without a commitment to its share in the (OPEC).
He said the second option in front of the international organization is to reduce the production as a whole without the 30 million barrels could be cut by about a million or two million barrels, but ruled out this option as supply in the market from outside countries (OPEC large) and in the growth and increase the mean loss Countries (OPEC) to parts of market shares.
He explained that the United States alone this year produced about one million barrels increase compared to last year in addition to an increase of some other countries outside OPEC to produce such as Brazil, Canada, China and others. Qabazard predicted that extends the negative impact of the oils with high cost is not in the current year, but over the next year, including the rocky and sandy and offshore oil.
As predicted, according to the Kuwaiti agency that the United States increase its output again by about 600 000 barrels next year, adding that the market is going to increase in production and an abundance of supply and if it reduced (OPEC) production Vstthrk other countries in the market and acquire customers.
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