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OPEC's call to adhere to the production ceiling
11/29/2014 0:00
BAGHDAD - morning - thank Fatlawi
After that the Organization of Petroleum Exporting Countries decided (OPEC) not to cut production, despite the glut of great supply in the global markets as the decline in oil prices is a real problem for them, increasing the need for day after day to reduce dependence on crude supplier and a single to balance the country and spared the vagaries of world oil prices because whenever crude prices fell earnings fell 12 countries in the Organization member, including Iraq.
The price of oil is a complex issue because it is affected by several factors, are having an impact and the implications of a wide and varied, in some cases, the strategic natural resources at the global level what makes it imperative for Anizh- According to oil expert - the defense of the oil price at a certain level, especially after the decision not to reduce output. In this regard, said oil expert Ahmed Musa horses that the effects of the decline can be effective, but its impact is largely dependent on the complexity of many of the factors shown by the answers to the other questions that are still unclear as how to deal quickly and oil prices moving down? Is there a limit to the bottom price and what is it? When what extent will stabilize prices?
He »Sabah» when processing oil pricing movement one needs to be clear and precise, when using data and information, charts prices for oil trade deals reflects trades related to future markets and relevant contracts.
Indicating vary these prices (up and down) in each hour of the trading session during the day, reflecting the sentiment on trading (and the actors in it are the oil traders, brokers and speculators).
He said these prices are very sensitive to a variety of different conditions, such as political event, the outbreak of the conflict, to resolve the dispute, accident on the export pipeline or main station, data and reports, and accidents, and the attacks on the oil field, natural disasters (earthquakes) and both in addition to trading normal and futures. He pointed out that this decline and continued sharp alarming, thus causing concern.
Horses and pointed out that the economic, financial and commercial factors that stood behind the current decline in oil prices and its impact on the future development is that the increase in global oil supplies occur in OPEC and non-OPEC countries (especially the United States) alike.
He said the supply growth include both conventional oil and non-traditional as well as potential for growth in oil demand is concentrated more on the Asian continent, noting that China has increased storage oil (taking advantage of the drop in oil prices), and the global growth in oil demand unlikely to match the supply in the near future.
He added that he can be considered a return to the market of Libyan crude oil, which was interrupted earlier and stronger dollar production, and lower interest rates and other financial measures economic performance in the Economic Cooperation Organization and China have also states its role in lower prices.
He suggested oil expert to capture the low prices and stability, elimination of excess current supply and the burden of doing so will fall on OPEC, and specifically on the largest producer, Saudi Arabia, Kuwait and the United Arab Emirates who was production where "capacitive extreme", while other OPEC members, especially Iran , Iraq, Libya, Nigeria, Venezuela is facing serious difficulties affecting the production levels.
He called on OPEC to defend the price of oil at a certain level (in agreement and strict adherence to the roof of mass production for 2015 is less (from 0.5 to 1.5 million barrels per day from the official level of 30 million barrels per day), or do something which does not leave an degraded oil price further.
For his part, an economist of the financial crisis faced by the country the way for structural reforms and root to activate the rest of the other economic sectors.
He d. Name of Saifi »Sabah» that crises are working to rethink the management of money and get rid of the curse of unilateralism revenue, pointing to the need to deal with what is happening by the radical and institutional.
He Saifi that rely on the type of revenue is an imbalance in the economic process as a result of the weakness of the rest of the sectors, pointing to the need to speed up activating the role of the private sector and involvement in economic decision-making, particularly after the recent trends of change and strengthen the role of the private sector and development through the restructuring of state-owned enterprises and converted the private sector.
He said the developments in any country are the result of private sector development and economic developments, attributing the cause to those countries that opened up to the world through the activation of work Bstratejaat linked to investment and the sector itself as a main entrance to any prospective change.
He concluded Saifi modern reference to the importance of expediting the creation of an atmosphere for effective development and investment of the private sector being the guarantors of the building facing the economy crisis and responsive to economic changes and able to alleviate the burdens that fall on the state budget.
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11/29/2014 0:00
BAGHDAD - morning - thank Fatlawi
After that the Organization of Petroleum Exporting Countries decided (OPEC) not to cut production, despite the glut of great supply in the global markets as the decline in oil prices is a real problem for them, increasing the need for day after day to reduce dependence on crude supplier and a single to balance the country and spared the vagaries of world oil prices because whenever crude prices fell earnings fell 12 countries in the Organization member, including Iraq.
The price of oil is a complex issue because it is affected by several factors, are having an impact and the implications of a wide and varied, in some cases, the strategic natural resources at the global level what makes it imperative for Anizh- According to oil expert - the defense of the oil price at a certain level, especially after the decision not to reduce output. In this regard, said oil expert Ahmed Musa horses that the effects of the decline can be effective, but its impact is largely dependent on the complexity of many of the factors shown by the answers to the other questions that are still unclear as how to deal quickly and oil prices moving down? Is there a limit to the bottom price and what is it? When what extent will stabilize prices?
He »Sabah» when processing oil pricing movement one needs to be clear and precise, when using data and information, charts prices for oil trade deals reflects trades related to future markets and relevant contracts.
Indicating vary these prices (up and down) in each hour of the trading session during the day, reflecting the sentiment on trading (and the actors in it are the oil traders, brokers and speculators).
He said these prices are very sensitive to a variety of different conditions, such as political event, the outbreak of the conflict, to resolve the dispute, accident on the export pipeline or main station, data and reports, and accidents, and the attacks on the oil field, natural disasters (earthquakes) and both in addition to trading normal and futures. He pointed out that this decline and continued sharp alarming, thus causing concern.
Horses and pointed out that the economic, financial and commercial factors that stood behind the current decline in oil prices and its impact on the future development is that the increase in global oil supplies occur in OPEC and non-OPEC countries (especially the United States) alike.
He said the supply growth include both conventional oil and non-traditional as well as potential for growth in oil demand is concentrated more on the Asian continent, noting that China has increased storage oil (taking advantage of the drop in oil prices), and the global growth in oil demand unlikely to match the supply in the near future.
He added that he can be considered a return to the market of Libyan crude oil, which was interrupted earlier and stronger dollar production, and lower interest rates and other financial measures economic performance in the Economic Cooperation Organization and China have also states its role in lower prices.
He suggested oil expert to capture the low prices and stability, elimination of excess current supply and the burden of doing so will fall on OPEC, and specifically on the largest producer, Saudi Arabia, Kuwait and the United Arab Emirates who was production where "capacitive extreme", while other OPEC members, especially Iran , Iraq, Libya, Nigeria, Venezuela is facing serious difficulties affecting the production levels.
He called on OPEC to defend the price of oil at a certain level (in agreement and strict adherence to the roof of mass production for 2015 is less (from 0.5 to 1.5 million barrels per day from the official level of 30 million barrels per day), or do something which does not leave an degraded oil price further.
For his part, an economist of the financial crisis faced by the country the way for structural reforms and root to activate the rest of the other economic sectors.
He d. Name of Saifi »Sabah» that crises are working to rethink the management of money and get rid of the curse of unilateralism revenue, pointing to the need to deal with what is happening by the radical and institutional.
He Saifi that rely on the type of revenue is an imbalance in the economic process as a result of the weakness of the rest of the sectors, pointing to the need to speed up activating the role of the private sector and involvement in economic decision-making, particularly after the recent trends of change and strengthen the role of the private sector and development through the restructuring of state-owned enterprises and converted the private sector.
He said the developments in any country are the result of private sector development and economic developments, attributing the cause to those countries that opened up to the world through the activation of work Bstratejaat linked to investment and the sector itself as a main entrance to any prospective change.
He concluded Saifi modern reference to the importance of expediting the creation of an atmosphere for effective development and investment of the private sector being the guarantors of the building facing the economy crisis and responsive to economic changes and able to alleviate the burdens that fall on the state budget.
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