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Oil Minister: It's hard watching oil prices unless we get to a critical result
09.15.2015
Baghdad scales News
Oil Minister Adel Abdul-Mahdi said, Tuesday, it's difficult to give a correct Trkabbat oil prices unless we get to a critical result of the global economies.
Abdul-Mahdi said in a statement received / scales News / copy of "oil prices fluctuate with a tendency to fall several weeks ago dropped the reference Brent oil of around $ 60 / barrel about two months ago, to $ 48-49 / barrel these days."
He noted that "the factors that drive prices as factors is crucial still, so Alterkabbat unknown factors are the most remained impact on prices, waiting for either low Ttelmush markets in the offer, or the return of the vital key to the economies of China, India, Japan, Europe, or a high interest rate / Federal / US. "
And that "by Baker Hugh / large oil Foundation /, the past week saw out 10 other excavators, bringing the total came from oil rigs in the United States 940 excavator after the number was in 1592 by hitting in 11/9 to 652 excavator, and this Index out more wells and investments in the rocky oils, and thus a slight decline in US production, after it led to increase production and supply around the year before for a lower price. "
He pointed out that "the news out to rigs launches enthusiastic about the price increase, but when he announced a decline in global sales of cars, got a counter pressure to the downside, Such news plays an important role in market speculation increase or decrease."
"It is difficult to give Trkabbat correct prices, unless we get to inconclusive about the conditions of macro and micro economics, and not side factors or subsidiary. Valmdharbh no matter how can not adopt prices or stable markets from which estimates, upon which public policies and investments."
"The oil is a strategic commodity which is still the most important source for power generation in the world, occupying more than 36% of the total energy sources, followed by coal, then gas a total of more than 80% of energy sources, then comes the nuclear and other solar and wind energy sources , etc. There is no doubt that speculation and sub-factors and other secondary will remain short-term and can not advance or stabilize the prices to be a substitute for economic factors, medium and long term. "
"The oversupply factor is the basis for a big factor, but it does not apply exclusively on economic factors Kmadlat growth and the increasing need for energy, including oil himself, The surplus in the presentation and production of oil, like the rest of the goods, not the only factor for the drop in prices," noting "This is the compressor is not a decisive factor, and that the surplus was not at the current level, but oil prices remained high during the early years of this decade, despite the presence of the surplus."
However, that "the factor most important is vital economies and their ability to absorb the surplus. China alone absorbed more than 40% of the increases in production for the period 2000-2014, when the growth rates high," noting that "those who want to anticipation and talk about the fall in oil prices to $ 20 or $ 30 that explains why it's not on speculation or existing surplus, but also to take into account the state of the global economy, Ankant pass phase stagnation and contraction or return of starting and high growth rates. With the first option, it will play a surplus and factors short-term speculative role in pushing prices downward. "
He added that "in this case certainly will be affected by the budgets of the Middle Eastern producing countries and others, Iraq alia, but what will be affected the most is the oils marginal rock such as oil or alternative energy, Vaclav produce oils Middle East are $ 2.15 / barrel, while it is weakening so as to other sources ".
He concluded that "this whole push for improved rates, after having to cut production from traditional sources, or from new sources, or both, either regained economies vitality, it will coexist with surplus production and supply, and will be able to absorb the press towards improved prices again," .anthy 29 / d 25
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09.15.2015
Baghdad scales News
Oil Minister Adel Abdul-Mahdi said, Tuesday, it's difficult to give a correct Trkabbat oil prices unless we get to a critical result of the global economies.
Abdul-Mahdi said in a statement received / scales News / copy of "oil prices fluctuate with a tendency to fall several weeks ago dropped the reference Brent oil of around $ 60 / barrel about two months ago, to $ 48-49 / barrel these days."
He noted that "the factors that drive prices as factors is crucial still, so Alterkabbat unknown factors are the most remained impact on prices, waiting for either low Ttelmush markets in the offer, or the return of the vital key to the economies of China, India, Japan, Europe, or a high interest rate / Federal / US. "
And that "by Baker Hugh / large oil Foundation /, the past week saw out 10 other excavators, bringing the total came from oil rigs in the United States 940 excavator after the number was in 1592 by hitting in 11/9 to 652 excavator, and this Index out more wells and investments in the rocky oils, and thus a slight decline in US production, after it led to increase production and supply around the year before for a lower price. "
He pointed out that "the news out to rigs launches enthusiastic about the price increase, but when he announced a decline in global sales of cars, got a counter pressure to the downside, Such news plays an important role in market speculation increase or decrease."
"It is difficult to give Trkabbat correct prices, unless we get to inconclusive about the conditions of macro and micro economics, and not side factors or subsidiary. Valmdharbh no matter how can not adopt prices or stable markets from which estimates, upon which public policies and investments."
"The oil is a strategic commodity which is still the most important source for power generation in the world, occupying more than 36% of the total energy sources, followed by coal, then gas a total of more than 80% of energy sources, then comes the nuclear and other solar and wind energy sources , etc. There is no doubt that speculation and sub-factors and other secondary will remain short-term and can not advance or stabilize the prices to be a substitute for economic factors, medium and long term. "
"The oversupply factor is the basis for a big factor, but it does not apply exclusively on economic factors Kmadlat growth and the increasing need for energy, including oil himself, The surplus in the presentation and production of oil, like the rest of the goods, not the only factor for the drop in prices," noting "This is the compressor is not a decisive factor, and that the surplus was not at the current level, but oil prices remained high during the early years of this decade, despite the presence of the surplus."
However, that "the factor most important is vital economies and their ability to absorb the surplus. China alone absorbed more than 40% of the increases in production for the period 2000-2014, when the growth rates high," noting that "those who want to anticipation and talk about the fall in oil prices to $ 20 or $ 30 that explains why it's not on speculation or existing surplus, but also to take into account the state of the global economy, Ankant pass phase stagnation and contraction or return of starting and high growth rates. With the first option, it will play a surplus and factors short-term speculative role in pushing prices downward. "
He added that "in this case certainly will be affected by the budgets of the Middle Eastern producing countries and others, Iraq alia, but what will be affected the most is the oils marginal rock such as oil or alternative energy, Vaclav produce oils Middle East are $ 2.15 / barrel, while it is weakening so as to other sources ".
He concluded that "this whole push for improved rates, after having to cut production from traditional sources, or from new sources, or both, either regained economies vitality, it will coexist with surplus production and supply, and will be able to absorb the press towards improved prices again," .anthy 29 / d 25
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