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Abdul-Mahdi: The price of oil will remain low unless US interest rate increases and the growth rate in China
2015/9/21
{Baghdad: Euphrates News} saw oil minister Adel Abdul Mahdi on Monday, the survival of the price of oil wobbling and down unless you get an increase in US interest rates, or global growth indicators, especially in China and Asia, one of the major consumers of oil, or reduce the global supply of oil.
He said Abdul-Mahdi told {Euphrates News} a copy of it today that "Alvininchil Times published a report yesterday saying that about 1.5 trillion dollars of global investment in conventional oil and non-traditional, including investments in shale oil in the heart of the oil areas in North America have been exhausted their money because of falling oil prices below $ 50 a barrel. "
He said the "Foundation" Wood Mackenzie "consultancy specialized energy pointed to expect falling investments at a rate of 20-30% .. estimates that $ 220 billion has gone out of investments and this more at a rate of 10%, or about $ 20 billion which was expected winning the last two months . Most of these projects have been frozen and postponed ".
"The price of oil had improved somewhat recently, and through the" Brent "of $ 50 a barrel, with Trkabbat that" the US Federal "will raise the interest rate, but prices have returned and dropped below the fifty with the announcement of the President of the bank," Mrs. Janet Yellen "last Friday At the press conference, "Ban external conditions require precise control", but added that the Fed "did not change the basis of his view" .. It is known that "the Fed {Central}" The US adopted six years ago interest on the federal loan rates are the most historic low, To ranging from "zero" and "0.25%", which provided easy money in the United States and concern globally increasing, but also the US concern because of the emergence of inflationary indicators in the US economy, which made observers optimistic possibility of a rate hike to address these possibilities. "
He noted that "the oil price will remain volatile and low, what we have not seen some of these procedures, or the whole, an increase of US interest rates, or global growth indicators, especially in China and Asia, one of the major consumers of oil, or reduce the global supply of oil, either from the" OPEC "comes or outside or both. The fall in the current oil price is an indication of the structural and major historical transformations, will shape the future of the industry milestones, and struggle openly and hidden between traditional and non-traditional sources of energy .. and a series of major political and economic goals, each of which seeks to occupy the best space his energy in the future world. "
He explained that "the number of drilling rigs in the United States fell for the third consecutive week, and became some of the investment is feasible with low oil prices, and indeed statistics show a decline production rate compared to Chapter II at a rate of 250 000 barrels / day .. as well as in Saudi Arabia, he saw Last June, the highest its stocks, which stood at 320 million barrels, having seen a decline in exports for the fourth consecutive month, reaching 7.28 million barrels / day, after exports recorded 7.9 million Bermaleomaa in March. "
He concluded by Abdul-Mahdi said "this stampedes factors objectivity and financial Altdharbah, political, technological and environmentalism and alternative energy sources and others will continue, with the conviction that economic factors pressing will remain the strongest in the end, to determine the future paths short and medium" .anthy
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2015/9/21
{Baghdad: Euphrates News} saw oil minister Adel Abdul Mahdi on Monday, the survival of the price of oil wobbling and down unless you get an increase in US interest rates, or global growth indicators, especially in China and Asia, one of the major consumers of oil, or reduce the global supply of oil.
He said Abdul-Mahdi told {Euphrates News} a copy of it today that "Alvininchil Times published a report yesterday saying that about 1.5 trillion dollars of global investment in conventional oil and non-traditional, including investments in shale oil in the heart of the oil areas in North America have been exhausted their money because of falling oil prices below $ 50 a barrel. "
He said the "Foundation" Wood Mackenzie "consultancy specialized energy pointed to expect falling investments at a rate of 20-30% .. estimates that $ 220 billion has gone out of investments and this more at a rate of 10%, or about $ 20 billion which was expected winning the last two months . Most of these projects have been frozen and postponed ".
"The price of oil had improved somewhat recently, and through the" Brent "of $ 50 a barrel, with Trkabbat that" the US Federal "will raise the interest rate, but prices have returned and dropped below the fifty with the announcement of the President of the bank," Mrs. Janet Yellen "last Friday At the press conference, "Ban external conditions require precise control", but added that the Fed "did not change the basis of his view" .. It is known that "the Fed {Central}" The US adopted six years ago interest on the federal loan rates are the most historic low, To ranging from "zero" and "0.25%", which provided easy money in the United States and concern globally increasing, but also the US concern because of the emergence of inflationary indicators in the US economy, which made observers optimistic possibility of a rate hike to address these possibilities. "
He noted that "the oil price will remain volatile and low, what we have not seen some of these procedures, or the whole, an increase of US interest rates, or global growth indicators, especially in China and Asia, one of the major consumers of oil, or reduce the global supply of oil, either from the" OPEC "comes or outside or both. The fall in the current oil price is an indication of the structural and major historical transformations, will shape the future of the industry milestones, and struggle openly and hidden between traditional and non-traditional sources of energy .. and a series of major political and economic goals, each of which seeks to occupy the best space his energy in the future world. "
He explained that "the number of drilling rigs in the United States fell for the third consecutive week, and became some of the investment is feasible with low oil prices, and indeed statistics show a decline production rate compared to Chapter II at a rate of 250 000 barrels / day .. as well as in Saudi Arabia, he saw Last June, the highest its stocks, which stood at 320 million barrels, having seen a decline in exports for the fourth consecutive month, reaching 7.28 million barrels / day, after exports recorded 7.9 million Bermaleomaa in March. "
He concluded by Abdul-Mahdi said "this stampedes factors objectivity and financial Altdharbah, political, technological and environmentalism and alternative energy sources and others will continue, with the conviction that economic factors pressing will remain the strongest in the end, to determine the future paths short and medium" .anthy
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