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Oil prices at the level of risk
09-12-2014 12:35 PM
Oil prices continued decline since trading the weekend yesterday, approaching the price of a barrel of Brent of the barrier of $ 65 (US $ 65.49 a barrel in Asian trading Tuesday morning), in the direction of a steady decline in six months, while oil prices have lost more than a third after the price of a barrel above the level of percent reasonably dollars.
There is a consensus in the commodity markets that the market is suffering from a 'glut' productivity after it kept the Organization of Petroleum Exporting Countries (OPEC) at its production ceiling at 30 million barrels per day, and are bypassed by some members, including revolves around a quarter of a million additional barrels a day.
But what led to the collapse in prices since last June, is to increase the production of the United States (one of the largest importers of energy in the world) from oil shale and pessimism about global economic growth and the overall weakness of Statistics growth rates already in Europe.
Gulf revenue
Saudi Arabia did not want (the largest producer and exporter of oil in OPEC) to bear the burden of usual problems of the eleven members of OPEC and others cut production by more than one million barrels to return to the level of prices, for example, eighty dollars a barrel.
Because Saudi Arabia put the budget on the basis of the price of ten dollars a barrel at least almost all the current level, it was felt that no problem.
And bet the rest of the producers and exporters, including major producers outside of OPEC, such as Russia, to change the supply and demand equation in the winter rate may lead to a better balance to the market and prices.
But declining economic growth, and in the heart of it reduced the growth of industrial sectors in the major economies indicators, did not make the worker seasonal effect.
However, the rest of the Gulf's oil revenues, which is a return to export the largest proportion of national income, could be adversely affected if prices begin to fall below the current level, specifically if tumbled down the level of sixty dollars per barrel.
He says a number of analysts and experts commodity markets that Kuwait and the UAE will start in economic vulnerability at this level, but also Saudi Arabia will not be able to continue to make up for lost revenue produced large size and exported.
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09-12-2014 12:35 PM
Oil prices continued decline since trading the weekend yesterday, approaching the price of a barrel of Brent of the barrier of $ 65 (US $ 65.49 a barrel in Asian trading Tuesday morning), in the direction of a steady decline in six months, while oil prices have lost more than a third after the price of a barrel above the level of percent reasonably dollars.
There is a consensus in the commodity markets that the market is suffering from a 'glut' productivity after it kept the Organization of Petroleum Exporting Countries (OPEC) at its production ceiling at 30 million barrels per day, and are bypassed by some members, including revolves around a quarter of a million additional barrels a day.
But what led to the collapse in prices since last June, is to increase the production of the United States (one of the largest importers of energy in the world) from oil shale and pessimism about global economic growth and the overall weakness of Statistics growth rates already in Europe.
Gulf revenue
Saudi Arabia did not want (the largest producer and exporter of oil in OPEC) to bear the burden of usual problems of the eleven members of OPEC and others cut production by more than one million barrels to return to the level of prices, for example, eighty dollars a barrel.
Because Saudi Arabia put the budget on the basis of the price of ten dollars a barrel at least almost all the current level, it was felt that no problem.
And bet the rest of the producers and exporters, including major producers outside of OPEC, such as Russia, to change the supply and demand equation in the winter rate may lead to a better balance to the market and prices.
But declining economic growth, and in the heart of it reduced the growth of industrial sectors in the major economies indicators, did not make the worker seasonal effect.
However, the rest of the Gulf's oil revenues, which is a return to export the largest proportion of national income, could be adversely affected if prices begin to fall below the current level, specifically if tumbled down the level of sixty dollars per barrel.
He says a number of analysts and experts commodity markets that Kuwait and the UAE will start in economic vulnerability at this level, but also Saudi Arabia will not be able to continue to make up for lost revenue produced large size and exported.
[You must be registered and logged in to see this link.]
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