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How will OPEC's decision in the Gulf countries and the world?
6/13/2015
NEW YORK CNN
The Organization of Petroleum Exporting Countries "OPEC" announced last Friday, that he had no intention of cutting oil production despite lower prices by 40 percent compared to last year, observers wondered:
Was there another solution?
Although some argue that the move came from the "OPEC" to strike a blow for oil producers Americans, but the experts say that the organization did not find only option in production in order to keep its grip on the market, as it was "OPEC" is responsible for 60 percent of world oil production, They accounted for 40 percent due to the sharp rise at a rate of US production him.
But Friday's decision was widely expected, it is the only option that was present in front of the members of the organization who Ttroshm Arabia.
Some believe if the "OPEC" has agreed to suppress rein in production, as it was the desire of some of its members, it was to cause a significant rise in oil prices, and simply had to enter the oil exporters Americans and the Russians and the Iranians directly to exploit the situation and get a bigger share of the market.
The consequences of this decision on oil prices and the members of the "OPEC", sees Managing Director of the Department of oil and gas research at the Foundation "Oppenheimer" Consulting Fadel Ghaith that the production surplus of oil will maintain the current rate of prices to range between $ 50 to $ 70 per barrel.
The International Monetary Fund estimates "IMF" loss Gulf states influencing the decisions of OPEC (Saudi Arabia, Kuwait, Qatar and the United Arab Emirates) by about $ 287 billion to the oil sector this year.
However, these countries have what distinguishes it, where they can bear the pressure caused by rising prices thought to cut production, as these countries have less expensive to extract oil in the world, the cost amounts to between two dollars to ten dollars per barrel.
They can also Gulf states to bear the consequences of these decisions the oil inventory left by blacks for days, with an estimated total value of stocks of oil at about $ 2.4 trillion, according to the Institute's sovereign wealth fund in the world "Sovereign Wealth Fund"
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6/13/2015
NEW YORK CNN
The Organization of Petroleum Exporting Countries "OPEC" announced last Friday, that he had no intention of cutting oil production despite lower prices by 40 percent compared to last year, observers wondered:
Was there another solution?
Although some argue that the move came from the "OPEC" to strike a blow for oil producers Americans, but the experts say that the organization did not find only option in production in order to keep its grip on the market, as it was "OPEC" is responsible for 60 percent of world oil production, They accounted for 40 percent due to the sharp rise at a rate of US production him.
But Friday's decision was widely expected, it is the only option that was present in front of the members of the organization who Ttroshm Arabia.
Some believe if the "OPEC" has agreed to suppress rein in production, as it was the desire of some of its members, it was to cause a significant rise in oil prices, and simply had to enter the oil exporters Americans and the Russians and the Iranians directly to exploit the situation and get a bigger share of the market.
The consequences of this decision on oil prices and the members of the "OPEC", sees Managing Director of the Department of oil and gas research at the Foundation "Oppenheimer" Consulting Fadel Ghaith that the production surplus of oil will maintain the current rate of prices to range between $ 50 to $ 70 per barrel.
The International Monetary Fund estimates "IMF" loss Gulf states influencing the decisions of OPEC (Saudi Arabia, Kuwait, Qatar and the United Arab Emirates) by about $ 287 billion to the oil sector this year.
However, these countries have what distinguishes it, where they can bear the pressure caused by rising prices thought to cut production, as these countries have less expensive to extract oil in the world, the cost amounts to between two dollars to ten dollars per barrel.
They can also Gulf states to bear the consequences of these decisions the oil inventory left by blacks for days, with an estimated total value of stocks of oil at about $ 2.4 trillion, according to the Institute's sovereign wealth fund in the world "Sovereign Wealth Fund"
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