Home
Oil Company: the golden age of OPEC has ended
9/8/15
Said Igor Sechin, head of the Russian energy company "Rosneft", Tuesday, that the golden era of the Organization "OPEC" maintaining a balance in oil prices has ended.
BAGHDAD / Obelisk: Take Igor Sechin, head of the Russian energy company "Rosneft", Tuesday, that the golden era of the Organization "OPEC" maintaining a balance in oil prices has ended when the organization decided not to geode crude production.
The agency quoted Russia today Sechin during a meeting place for traders in commodities in Singapore that "if it had been committed production quotas would have been the world's oil markets have regained their balance now, indicating that the world oil markets need to be an average price of $ 70 a barrel in order to regain its balance.
Sechin also discussed the issue of Russia's membership in the organization, "OPEC" that is involved in the organization as an observer, when he said that "OPEC" and issued an invitation to Russia to join the organization, but Russia has refused and will continue to be an observer in the group only, pointing out that the talks between the "OPEC" and Russia and lead to a positive exchange of views.
The Saudi Arabia and other Gulf states behind the transformation of the Organization of Petroleum Exporting Countries "OPEC" strategy last year when the organization decided at its meeting to maintain the ceiling of oil production unchanged at 30 million barrels per day, in order to defend its market share rather than support prices by cutting production raw.
And experiencing the world oil markets from an increase in supply and less demand for oil, which led to a decline in the price of a barrel of oil by more than half since mid-2014, reaching the 7th of September 49.07 dollars a barrel compared to $ 115 a barrel in the 19th of July.
It consists of OPEC basket of 12 crude, a mixture Algerian Sahara ore Girassol Angolan Iranian heavy crude and Basrah Light and the Iraqi export Kuwaiti and Libyan Seder and Bonny Light of Nigeria and sea Qatari Light and Arab Saudi and Murban UAE and Mary Venezuelan Orient from Ecuador.
[You must be registered and logged in to see this link.]
9/8/15
Said Igor Sechin, head of the Russian energy company "Rosneft", Tuesday, that the golden era of the Organization "OPEC" maintaining a balance in oil prices has ended.
BAGHDAD / Obelisk: Take Igor Sechin, head of the Russian energy company "Rosneft", Tuesday, that the golden era of the Organization "OPEC" maintaining a balance in oil prices has ended when the organization decided not to geode crude production.
The agency quoted Russia today Sechin during a meeting place for traders in commodities in Singapore that "if it had been committed production quotas would have been the world's oil markets have regained their balance now, indicating that the world oil markets need to be an average price of $ 70 a barrel in order to regain its balance.
Sechin also discussed the issue of Russia's membership in the organization, "OPEC" that is involved in the organization as an observer, when he said that "OPEC" and issued an invitation to Russia to join the organization, but Russia has refused and will continue to be an observer in the group only, pointing out that the talks between the "OPEC" and Russia and lead to a positive exchange of views.
The Saudi Arabia and other Gulf states behind the transformation of the Organization of Petroleum Exporting Countries "OPEC" strategy last year when the organization decided at its meeting to maintain the ceiling of oil production unchanged at 30 million barrels per day, in order to defend its market share rather than support prices by cutting production raw.
And experiencing the world oil markets from an increase in supply and less demand for oil, which led to a decline in the price of a barrel of oil by more than half since mid-2014, reaching the 7th of September 49.07 dollars a barrel compared to $ 115 a barrel in the 19th of July.
It consists of OPEC basket of 12 crude, a mixture Algerian Sahara ore Girassol Angolan Iranian heavy crude and Basrah Light and the Iraqi export Kuwaiti and Libyan Seder and Bonny Light of Nigeria and sea Qatari Light and Arab Saudi and Murban UAE and Mary Venezuelan Orient from Ecuador.
[You must be registered and logged in to see this link.]
