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OPEC begins its opening meeting with the participation of Iraq to discuss oil production quotas and price drop
Thursday, 27 October 2 / November 2014 12:06
[Baghdad-where]
OPEC held at its headquarters in the Austrian capital Vienna from its opening meeting No. 166 on Thursday to discuss production quotas member states, including Iraq and the face of declining world oil prices.
And chairs the Oil Minister Adel Abdul-Mahdi Iraqi delegation in the organization meeting.
It will be the final session of the meeting at 2 pm Baghdad time in the presence of all the heads of delegations of member states as well as the OPEC secretary.
As will be a press conference after the meeting at five o'clock in the evening Baghdad time for the President of the Conference and OPEC Secretary-General.
This meeting comes at a time when oil prices have steadily deteriorated since last June.
Industry experts predict that the conferees agree on the obligation of States to production quotas established previously, but other experts have questioned OPEC's ability to control oil prices, which are subject to the logic of supply and demand.
And Iraq, which has affected export of crude oil, about 2.9 million barrels of lower prices, which amounted to about $ 73.70 per barrel, according to the organization prices up on Wednesday.
Fell twelve profits ten member of the OPEC country [Iraq, Saudi Arabia, United Arab Emirates, Kuwait, Qatar, Iran, Nigeria, Libya, Angola, Algeria, Ecuador, and Venezuela] These combined nations produce more than one-third of the world's crude, is also available on the large proportions of oil reserves.
The Iraq reserves of crude oil, according to global estimates of 144.2 billion barrels.
The meeting comes with a very significant reduction in the financial budget for Iraq, which depends almost 90% on the proceeds of oil where Finance Minister Hoshyar Zebari yesterday NH said, "will be presented to the government soon budget that proposed for 2015 worth $ 100 billion based on a price of $ 70 per barrel of oil," which will be discussed by the Cabinet in its emergency today.
The 2014 budget, which did not recognize until now had their previous government worth about $ 150 billion, according to Zebari announced for next year's budget, it would be reduced to $ 50 billion due to a significant drop in oil prices Alaalmih.anthy
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Thursday, 27 October 2 / November 2014 12:06
[Baghdad-where]
OPEC held at its headquarters in the Austrian capital Vienna from its opening meeting No. 166 on Thursday to discuss production quotas member states, including Iraq and the face of declining world oil prices.
And chairs the Oil Minister Adel Abdul-Mahdi Iraqi delegation in the organization meeting.
It will be the final session of the meeting at 2 pm Baghdad time in the presence of all the heads of delegations of member states as well as the OPEC secretary.
As will be a press conference after the meeting at five o'clock in the evening Baghdad time for the President of the Conference and OPEC Secretary-General.
This meeting comes at a time when oil prices have steadily deteriorated since last June.
Industry experts predict that the conferees agree on the obligation of States to production quotas established previously, but other experts have questioned OPEC's ability to control oil prices, which are subject to the logic of supply and demand.
And Iraq, which has affected export of crude oil, about 2.9 million barrels of lower prices, which amounted to about $ 73.70 per barrel, according to the organization prices up on Wednesday.
Fell twelve profits ten member of the OPEC country [Iraq, Saudi Arabia, United Arab Emirates, Kuwait, Qatar, Iran, Nigeria, Libya, Angola, Algeria, Ecuador, and Venezuela] These combined nations produce more than one-third of the world's crude, is also available on the large proportions of oil reserves.
The Iraq reserves of crude oil, according to global estimates of 144.2 billion barrels.
The meeting comes with a very significant reduction in the financial budget for Iraq, which depends almost 90% on the proceeds of oil where Finance Minister Hoshyar Zebari yesterday NH said, "will be presented to the government soon budget that proposed for 2015 worth $ 100 billion based on a price of $ 70 per barrel of oil," which will be discussed by the Cabinet in its emergency today.
The 2014 budget, which did not recognize until now had their previous government worth about $ 150 billion, according to Zebari announced for next year's budget, it would be reduced to $ 50 billion due to a significant drop in oil prices Alaalmih.anthy
[You must be registered and logged in to see this link.]
