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Abdul-Mahdi: Iraq has taken a historic decision not to cut oil production
2015/10/26 19:27
{Baghdad: Euphrates News} Oil Minister Adel Abdul-Mahdi said Iraq has taken the right decision not to reduce the historically oil production, and continued with his plans.
He said Abdul-Mahdi said in a statement {Euphrates News} received a copy of it today, "After that the production rates nearing Iraq to 4 million barrels per day in the late seventies, everything collapsed because of internal and external wars, and the decline of the oil sector and the overall economy, and did not invest huge reserves, losing money markets was to be with shale oil emergence of resistance to pressures to reduce production to countries without the other in order to increase prices.
"He added," Such a policy would allow for high crudes cost to occupy the place of crudes and low cost, and we will lose twice, the first survival pressure on prices to remain lower than normal prices because of the increased dumping of the markets, and the second decline in production in low-lying cost areas, and Iraq, including, and increase in high-cost areas any coercion things to walk counter to economic logic, it shows the ability of rich nations to impose its conditions, and to force our product that sells itself at less than normal prices, and forcing our markets to buy their products higher than normal prices, which constitutes the basis of the theory {exchange Allamtkavye} famous .. where he leads the progress of nations or delay the restructuring interview for trade and markets, is up to developed countries across the commodity and service exchange process Akiem do not deserve, and extracted from the latter countries Akiem deserve .
"The David Ricardo early nineteenth century of the pillars of the economy and the owner, known as {benefits comparison}, or {theoretical costs comparison} {and Compartive costs Compartive advantages}", noting that "the UN and economies should focus on what will bring it the highest benefits Based on specialization and the prices of labor and raw materials in which .. is suggested, for example, that Britain specializes industry and global trade to achieve the highest profits.
"He explained that" Portugal specializes {late then} agricultural production due to the nature of its resources .. theories {Ricardo} is still influential in tips {Organization World Trade}, and platforms for regional organizations which countries and economies pay to specialize according to their resources and potential.
"The September 2015 that the statistics indicate total investable global reserves in shale oil in 41 countries, and in the 137 configuration oil, amounting to 418.9 billion barrels 78.2 in the United States, any Only 10% of the reserves of conventional oil, in return rising cost of shale oil production 4 10 times the cost of conventional oil production, especially when compared to the Middle East .. Whatever the analysis, the price of oil when fall below $ 50 a barrel, they will develop this sector in difficulties great .. It is what actually happened during the year 2015.
He noted that "the decline in the production of America's oil in the third quarter 2015 compared to Chapter II at a rate of 250 000 barrels per day .. and fell shale oil rigs in the United States to 787 excavator {594 oil and 183 gas} In October 16, 2015, while the number was 1930 in September 2014, the world and the number fell from 3676 to 2117, including America.
"He continued," There is no doubt that the entry of about 3 million barrels of oil / day extra has led with other factors to the collapse of oil prices .. There is no doubt that the shale oil has changed from the oil industry Facts and confirmed How can technology or policy that crashes even temporarily, the laws of Ricardo economy but the truth Economic must be returned imposes itself .. and we believe that this fact many Adrickunha after the decline spree primary production, although it began decision-makers must put these developments as, without Ansehm that conventional oil is still owned by the theory {Ricardo} economic benefits much from shale oil more.
"He pointed out that the precautions installed, rates the current global consumption, unsustainable, calculated contracts and centuries. . While shale reserves will be measured in years.
He noted that "the first production of lower cost many times the second production cost. Oil is a strategic commodity, it is still the most widely used for the production of energy needed increasingly global, so must return oil prices to correct itself. "Ended h
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2015/10/26 19:27
{Baghdad: Euphrates News} Oil Minister Adel Abdul-Mahdi said Iraq has taken the right decision not to reduce the historically oil production, and continued with his plans.
He said Abdul-Mahdi said in a statement {Euphrates News} received a copy of it today, "After that the production rates nearing Iraq to 4 million barrels per day in the late seventies, everything collapsed because of internal and external wars, and the decline of the oil sector and the overall economy, and did not invest huge reserves, losing money markets was to be with shale oil emergence of resistance to pressures to reduce production to countries without the other in order to increase prices.
"He added," Such a policy would allow for high crudes cost to occupy the place of crudes and low cost, and we will lose twice, the first survival pressure on prices to remain lower than normal prices because of the increased dumping of the markets, and the second decline in production in low-lying cost areas, and Iraq, including, and increase in high-cost areas any coercion things to walk counter to economic logic, it shows the ability of rich nations to impose its conditions, and to force our product that sells itself at less than normal prices, and forcing our markets to buy their products higher than normal prices, which constitutes the basis of the theory {exchange Allamtkavye} famous .. where he leads the progress of nations or delay the restructuring interview for trade and markets, is up to developed countries across the commodity and service exchange process Akiem do not deserve, and extracted from the latter countries Akiem deserve .
"The David Ricardo early nineteenth century of the pillars of the economy and the owner, known as {benefits comparison}, or {theoretical costs comparison} {and Compartive costs Compartive advantages}", noting that "the UN and economies should focus on what will bring it the highest benefits Based on specialization and the prices of labor and raw materials in which .. is suggested, for example, that Britain specializes industry and global trade to achieve the highest profits.
"He explained that" Portugal specializes {late then} agricultural production due to the nature of its resources .. theories {Ricardo} is still influential in tips {Organization World Trade}, and platforms for regional organizations which countries and economies pay to specialize according to their resources and potential.
"The September 2015 that the statistics indicate total investable global reserves in shale oil in 41 countries, and in the 137 configuration oil, amounting to 418.9 billion barrels 78.2 in the United States, any Only 10% of the reserves of conventional oil, in return rising cost of shale oil production 4 10 times the cost of conventional oil production, especially when compared to the Middle East .. Whatever the analysis, the price of oil when fall below $ 50 a barrel, they will develop this sector in difficulties great .. It is what actually happened during the year 2015.
He noted that "the decline in the production of America's oil in the third quarter 2015 compared to Chapter II at a rate of 250 000 barrels per day .. and fell shale oil rigs in the United States to 787 excavator {594 oil and 183 gas} In October 16, 2015, while the number was 1930 in September 2014, the world and the number fell from 3676 to 2117, including America.
"He continued," There is no doubt that the entry of about 3 million barrels of oil / day extra has led with other factors to the collapse of oil prices .. There is no doubt that the shale oil has changed from the oil industry Facts and confirmed How can technology or policy that crashes even temporarily, the laws of Ricardo economy but the truth Economic must be returned imposes itself .. and we believe that this fact many Adrickunha after the decline spree primary production, although it began decision-makers must put these developments as, without Ansehm that conventional oil is still owned by the theory {Ricardo} economic benefits much from shale oil more.
"He pointed out that the precautions installed, rates the current global consumption, unsustainable, calculated contracts and centuries. . While shale reserves will be measured in years.
He noted that "the first production of lower cost many times the second production cost. Oil is a strategic commodity, it is still the most widely used for the production of energy needed increasingly global, so must return oil prices to correct itself. "Ended h
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