The price of oil is, after a fall of nearly 50% in the second half of this year, a level that is not justified in the existing economic indicators, defended Sunday the secretary general of the Organization of Petroleum Exporting Countries ( OPEC).
Abdallah al-Badri reiterated, told reporters in Dubai, the current strategy of your organization not to move to a reduction in output to stem the current drop in prices, but stressed that the current balance between demand and supply on the market international oil would not, under normal circumstances, the descent of oil value as pronounced. At this time, each trumpeting is being sold in the market to a value slightly above $ 60, a value that is more than 45% below their peak this year.
The explanation found by the Head of the OPEC is in “speculation”. “We want to know the real reasons that led to a fall in the prices of these,” he said, guessing now that if the decline continues, it means that “speculation is contributing significantly” to this development.
The world oil market was shaken in recent months by an increase in US reserves as a result of increased production with new technologies by the United States of shale oil – “oil shale”. The traditional producers of hand there is doubt whether it is best to lowering production to try again raise prices or keep production unchanged and try to win the new competition with the fall in prices which makes the business of “shale oil” unfeasible . There are other points of order geostrategy to consider as two of the main harmed producing countries are Russia and Iran.
No comments:
Post a Comment