Home
Global Exchange: determine the cost of extracting oil prices
10/19/2015 0:00
BAGHDAD - Hussein al-Tamimi Tgb
represents global stock index sensor markets in different parts of the ground and directed for professionals towards stand on the real of the most important goods prices in international markets, including the oil V.mmthel global stock Osama Mahmoud is the oil of the most important commodities affecting the global economy in general and the Iraqi economy special,
and are affected by oil prices, the offer only nothing to do with demand and is so different from all goods Alakhary.oukal »Sabah»: There are many effects on oil prices and the cost of extracting the most important as the extraction cost plays an important role in determining the price of oil, for example oil in Iraq the advantage of easily extracted the fact that the Iraqi soil sandy and easy to drill, but for wells Brent Almtozaah between Britain and Norway Vtmtaz high extraction cost of the fact that the soil of those areas rocky.
He pointed out that transporting crude oil to refineries or for export an effective role in determining oil prices, affecting the cost of transporting oil in setting prices for example, methods of transporting oil through marine tankers are less expensive than extended oil pipeline through the territory of the exporting and importing countries Naft.wachar that major oil organizations' policies as an organization OPEC plays an important role in determining oil prices and the best example of this dramatic decline in Oil prices in the last period because of OPEC's policy of flooding the market offer larger amounts of the actual need for the global market, pointing out that seasonal changes push oil prices to the upward move in global markets, especially in the separation Alhta.uan the reason for the low price of Iraqi oil all kinds of oil and other Mahmoud said: saw the price of Iraqi oil significantly reduced during the last period, where the Iraqi oil prices ranged between 32-38 dollars per barrel, a generally lower price of Brent crude at about $ 10 per barrel, what the reason for this disparity in prices?
He said the Iraqi oil classifies species least efficient from the rest of the world's oil types, where is the Iraqi oil poorly in terms of purity, compared with a mixture of Brent, which makes it costly in the refining process and needs to be sophisticated refining tools, and this will inevitably raise the cost of production of oil derivatives, but it is most important characteristic of Iraqi oil is a low extraction cost of the fact that the oil wells in Iraq close to the earth's surface as well as the ease of drilling for oil the fact that the soil in Iraq sandy and not rocky.
He said initial reports indicated the International Energy Agency that crude oil markets will continue to suffer from an oversupply during 2016 due to poor Global demand for crude oil as well as expectations of increased production by the Iranian oil.
[You must be registered and logged in to see this link.]
