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Oil Expert: lower oil prices caused by U.S. credit crisis, not supply and demand
On: Sun 08/07/2011 13:57
Baghdad (news) .. link Hamza oil expert jeweler cause of low oil prices, the credit crunch with a decline in U.S. dollar prices.
Has reached the price of crude oil per barrel to (87.26) dollars, while the Brent oil has arrived (109.37) dollars per barrel.
The jeweler said in a statement to contact the Agency (news) on Sunday: "The drop in oil prices due to the credit crisis with the decline in U.S. dollar prices, excluding disorders of supply and demand behind this decline.
The Jeweler: "To reduce the credit score creates a kind of American economic slowdown on any dollar bloc countries that are installing their currencies to the dollar, what will happen a certain imbalance leads to a reduction in oil demand, it is difficult to determine the time that this decline will end."
The oil expert Halim Kazim in an earlier statement (the news) that the oil prices for the year (2011) in the fluctuation constant is difficult to determine the real reasons, but began to produce Ahdab became possible to achieve Iraq's approximately (84) billion dollars a year, noting that increase continues, there is a global crisis confuse the stability of oil.
It is noted that Iraq had occurred during the year 2010, contracts with several international companies to develop some oil fields in the two rounds of licensing the first and second, to reach a production of at least (11) million barrels per day within the next six years, and (12) million barrels per day, after the addition of the quantities of the other fields of national effort. / End / 12. t. M /
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On: Sun 08/07/2011 13:57
Baghdad (news) .. link Hamza oil expert jeweler cause of low oil prices, the credit crunch with a decline in U.S. dollar prices.
Has reached the price of crude oil per barrel to (87.26) dollars, while the Brent oil has arrived (109.37) dollars per barrel.
The jeweler said in a statement to contact the Agency (news) on Sunday: "The drop in oil prices due to the credit crisis with the decline in U.S. dollar prices, excluding disorders of supply and demand behind this decline.
The Jeweler: "To reduce the credit score creates a kind of American economic slowdown on any dollar bloc countries that are installing their currencies to the dollar, what will happen a certain imbalance leads to a reduction in oil demand, it is difficult to determine the time that this decline will end."
The oil expert Halim Kazim in an earlier statement (the news) that the oil prices for the year (2011) in the fluctuation constant is difficult to determine the real reasons, but began to produce Ahdab became possible to achieve Iraq's approximately (84) billion dollars a year, noting that increase continues, there is a global crisis confuse the stability of oil.
It is noted that Iraq had occurred during the year 2010, contracts with several international companies to develop some oil fields in the two rounds of licensing the first and second, to reach a production of at least (11) million barrels per day within the next six years, and (12) million barrels per day, after the addition of the quantities of the other fields of national effort. / End / 12. t. M /
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