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"OPEC" a positive performance in the oil markets expect during 2016
November 10, 2015 0
Abdullah al-Badri, Secretary General of OPEC, said on Tuesday that oil markets will experience a positive performance in 2016
Badri said on the sidelines of exhibition ADIPEC 2015 Conference, held in Abu Dhabi, to the need for cooperation and solidarity among member within OPEC and independent producers in order to maintain market stability
He said that OPEC will not cut production but called producers at the same time reducing the need for non-members. Their production and cooperation with OPEC for high prices
Badri welcomed the accession of Iran to the market after the lifting of sanctions.
The UAE Energy Minister Suhail Al Mazroui, had said on Tuesday that he expected a correction in the ascending oil prices in 2016
"The Al Mazroui", on the sidelines of a ceremony "Flag Day" in Abu Dhabi, the oil demand will see a marked increase in the next year, as a result of economic growth forecasts in some countries, especially in Europe, with the possibility not to increase production.
Oil prices have fallen more than 50% to trade below $ 50, after it was at $ 115 a barrel in July 2014
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