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Oil rises, traders take positions ahead of OPEC meeting


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Markets Mon Nov 30, 2015 7:00am EST Oil rises, traders take positions ahead of OPEC meeting
LONDON BY KAROLIN SCHAPS

 

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Rigging equipment is pictured in a field outside of Sweetwater, Texas June 4, 2015.
REUTERS/COOPER NEILL
 

Oil prices rose on Monday as investors took positions ahead of an OPEC meeting this week despite expectations that the producer group will not change its output policy.

Brent crude, the global oil benchmark, was trading up 48 cents at $45.34 a barrel at 1157 GMT. U.S. crude futures were 32 cents higher at $42.03 per barrel.

Nevertheless, both contracts are set to end November some 7-9 percent lower as a global supply glut shows no sign of diminishing.

Preparing for Friday's the Organization of the Petroleum Exporting Countries (OPEC) policy decision, oil traders strengthened their positions to prepare for any unexpected outcomes.

"We see a lot of positioning ahead of the OPEC meeting at the end of the week. That is sparking a lot of interest," said Michael Poulsen, oil analyst at Copenhagen-based Global Risk Management.

OPEC is determined to keep pumping oil vigorously despite the resulting financial strain even on the policy's chief architect, Saudi Arabia, alarming weaker members who fear prices may slump further towards $20.

Any policy U-turn would be possible only if large producers outside the exporters' group, notably Russia, were to join coordinated output cuts.

OPEC and Russia could make "some sort of co-ordinated attempt to reduce production", said Jonathan Barratt, chief investment officer at Sydney's Ayers Alliance.

"The glut continues, but I do feel that it could be reversed quite quickly given the change in interest rates in the United States, which would indicate more demand."

The OPEC meeting should also include discussions about new supply from Iran, according to analysts at Morgan Stanley.

Iran, once the second-largest OPEC producer after Saudi Arabia, hopes to raise its crude exports by as much as 1 million barrels per day within months once sanctions aimed at its nuclear program are eased.

Iran on Saturday offered about 50 oil and gas projects to be developed by foreign investors with local partners.

On Monday, Reuters will publish its monthly oil price poll and its OPEC oil production survey, giving an indication of market consensus on the way ahead.

The end of the U.S. Thanksgiving holiday period will also mean a return to the market of U.S.-based investors, a factor that will likely increase trading volatility later on Monday, Global Risk Management's Poulsen said.

Traders will also be watching for the U.S. non-farm payrolls report due on Friday. A strong jobs report could seal the case for an interest rate hike at the U.S. Federal Reserve's Dec. 15-16 meeting and give an indication of the health of the economy.

Other events this week include the European Central Bank meeting on Thursday where economists polled by Reuters expect the ECB to announce monetary policy easing measures.

 

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Fluctuation in oil .. and attention towards the "OPEC"

 

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Fluctuation in oil .. and attention towards the "OPEC"

News Source:Ali Abd al-Salman

 

 

 

December 2, 2015 6:37

 

Readers Number:7

 
 
 

Eyes of the oil markets to the organization, "OPEC" meeting to be held on the 4th of December / December, which Members will determine the policy in the face of the oil market, which is still oversupplied.

And taught members of the Organization of Petroleum Exporting Countries "OPEC", and that its produces about 40% of the global output of oil, during their meeting in oil prices, which lost nearly 60% of their value since mid-2014, and is now trading as below $ 45 a barrel.

Analysts and officials believe that the four Gulf states (Saudi Arabia, UAE, Kuwait and Qatar), particularly Saudi Arabia will refuse to cut production organization, in spite of warnings that such a decision could lead to a further decline in prices.

According to experts, the markets in the Gulf states, which cover about half of the organization's production of 32 million barrels a day, wants commitments from other producers outside the Organization that they are prepared to cut their production as well.

The Riyadh hinted last week that it was ready to cooperate with other oil producers to ensure stability in the market and support prices.

Said one economist: "I do not desire among Gulf producers to change the defense of market share policy and not the price, in spite of the large losses."

Previously, Venezuela, a member of the "OPEC", warned that the low price of oil to $ 20 a barrel in the absence of production cuts.

The "OPEC" meeting at a time when the supply of oil on the world market than the demand, while the inventory record levels close to three billion barrels, three times higher than the usual quantities.

The International Energy Agency has said earlier this month that global oil demand growth will slow next year. The organization is expected to be growth up to 1.2 million barrels per day in 2016, compared to 1.8 million in 2015.

Under these low prices, the investment attractiveness of the sector down, and therefore will reduce the supply may result in a jump in prices in the future.

Riyadh said this month that new investment in oil projects that more than $ 200 billion has been abolished in the world, and expects additional steps similar in 2016.

In terms of trading, crude Monday November 30 prices rose, as investors formation centers before "OPEC" meeting, despite expectations that the organization will not change its policy of productivity.

Futures rose US crude for delivery in January, by 16:07 am Moscow time, by 0.62% to $ 41.97 a barrel, after reading recorded at $ 41.55 a barrel earlier.

And stepped futures global mix "Brent" delivery the same month increased by 0.91% to $ 45.27 a barrel, having reached US $ 44.60 a barrel.

However, the already allocated contracts tend to end the month of November to losses of between 7% and 9% with showing no signs of easing oversupply.

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Thursday, December 3 2015, 12:15

 

 
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Alsumaria News / Baghdad 
Oil Minister Adel Abdul-Mahdi, Thursday, that he was prepared to hold an open debate at the OPEC meeting. 

Reuters quoted Abdul-Mahdi as saying that "Iraq is willing to have an open discussion at the OPEC meeting, on a new Saudi proposal to cut OPEC production coordination with producers from outside the organization." 

The oil minister Adel Abdul Mahdi and President of the company SOMO, Falah al-Amiri had left Iraq heading to Vienna to attend the periodic conference of the Organization of Petroleum Exporting Countries, which will take place in the fourth month of December of the current first.

 

 

Analysts expect affairs of the oil that OPEC will focus its discussions on the possibility of reducing oil output in light of the deteriorating global Alasaalar oil, which amounted to less than $ 40 per barrel. 
 
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Oil Minister to visit one of the sites in southern Iraq

 

Author: HAA 
Editor: BK 2015/12/03 19:46 Number of Views: 394 

 

Long-Presse / Baghdad

Iraq confirmed on Thursday his intention to maintain the plans for the production of oil, noting that the consultative meeting "informal" to members of the Organization of Petroleum Exporting Countries "did not result in something tangible."  

He said Iraq's oil minister, Adel Abdul-Mahdi, in media statements from the Organization of Petroleum Exporting Countries headquarters (OPEC), in the Austrian capital Vienna, followed up (range Press), said that "Iraq will keep oil production rates," noting that "OPEC ministers are still discuss in their informal meeting, without reaching for something tangible. "

The statement comes Abdul-Mahdi, in the wake of media leaks on Saudi Arabia's intention to invite the members of OPEC cut production by one million barrels per day next year, 2016, in coordination with producers from outside the organization, as well as Iraq and Iran, where the two members.

The OPEC oil ministers held today, a consultative meeting "informal" meeting was held in preparation for the official league on Friday.

It is expected that OPEC members focused on how to stop the deterioration of oil prices, which fell nearly 60 percent in the current 2015.

Abdul-Mahdi, and the President of Oil Marketing Company (SOMO), Falah al-Amiri, had left Iraq, heading to Vienna to attend a regular meeting of the OPEC, in (the first of the current December 2015).

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Thursday December 3 2015 18:31
 
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Alsumaria News / Baghdad 
The Saudi Oil Minister Ali al-Naimi, on Thursday, he held a meeting "excellent" informally with colleagues from OPEC members, but declined to comment further, while Iraqi Oil Minister Adel Abdul-Mahdi said he was not making any decisions.
 
OPEC holds a formal meeting on Friday. And an informal meeting of its members before the official meeting, something rare but today's meeting is not the first of its kind. It was attended by ministers from Saudi Arabia, Iran, Iraq and the UAE, Venezuela, Ecuador, Qatar, Kuwait, Nigeria and Algeria.

 

 
Quoted "Reuters" news agency Abdul-Mahdi as saying after the end of the informal meeting, he said that "nothing has been decided at the meeting."
 
For his part, Iranian Oil Minister Bijan Zanganeh that "some members had submitted proposals could be discussed at Friday's meeting," but he did not want to reveal the details.
 
Abdul-Mahdi was confirmed earlier on Thursday (December 20 153), that Iraq will keep the crude oil production plans, in response to a question whether the country was ready to install production at the current level.
 
The bulletin "Energy Intelligence" specialized in the field of petroleum, on Thursday, that Saudi Arabia is the largest producer in OPEC may propose to the members of the organization to cut production million barrels per day next year if producers are joined by non-OPEC for this step, and if Iraq agreed to install its production at the level of current and Iran participated in the cut.
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04/12/2015 14:04

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BAGHDAD / Obelisk: Oil prices rose slightly at the end of the trading week Friday as a result of decline in the dollar exchange rate against the euro and major currencies, and not because of the Organization of Petroleum Exporting Countries meeting (OPEC) in Vienna.

According to what reported 'Sky News', the oil market is not waiting for any change in the ceiling of OPEC production (30 million barrels per day) at the current meeting with the continuation of the main producer in the Organization's position (Saudi Arabia) refusing to intervene in the market as long as producers outside OPEC increase production.

Russia was one of the largest non-OPEC producers increased production recently to the limit, despite Moscow's statements about its willingness to cooperate with OPEC producers in the display market, which affects satiety set.

The price of a barrel of oil remains US light close to the level of $ 40 a barrel, and a barrel of Brent crude below the level of $ 45.

Oil prices are currently experiencing the worst levels after a year of declining trend since the beginning of the summer last year in terms of prices lost more than half.

And now the price of crude reached its lowest level in 6 years.

In the case of the continuation of the current supply and demand levels are expected to fall more than prices in the first half of next year, some analysts say they may lose more than half their present value.

 
 
 
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GMT 0:21 2015 Saturday, December 5: Last Updated


Saudi Arabia and the Gulf states will not accept cut production 


OPEC meets and division of oil continuously


Hayyan Al-Hajri








 


 


 

998034439545.jpgOPEC meetings







 




 



OPEC meets in Vienna in light of a major split on the production ceiling, especially Saudi Arabia and the Gulf States will not be satisfied downwards.

 

Hayyan Al Hajri from Riyadh: meet members of the Organization of Petroleum Exporting Countries Countries (OPEC) Friday in Vienna, where ministers and the organization wants to change the direction of the market in the face of low prices, but their options are very limited. The meeting was held under the slightly higher prices for US benchmark crude oil, but it is still just barely rise beyond $ 41 a barrel, what will bring him closer than the lowest rate achieved during the global economic crisis seven years ago.

 

OPEC has cut oil production in the past to limit supplies and raise prices, but some members of the organization are already selling in light of the loss, and any reduction in output would increase the damage to their financially.

 

It remains the possibility of increasing "OPEC" production and improbable, given that the sanctions imposed on the sale of Iranian oil is about to expire, and that Indonesia will return to the organization as a member.

 

Target market stability

 

This meeting is the normal No. 168 meeting of the Organization "OPEC" at the level of ministers of oil and energy Representatives of Member States at the organization's headquarters in Vienna. Was opened by the Minister of Oil and resources of the Nigerian Emmanuel Abkachiko, chairman of the meeting, the agenda of the current session a short speech in which he welcomed the return of Indonesia to participate in the organization's efforts, at the request made by the reactivation of its membership after seven years of stalemate.

 

The chairman of the meeting, before switching to the closed session, the ministers participating in today's meeting will discuss developments in the world oil market, over the past few months, in order to maintain market stability and to respond to anticipated future needs and rates of growth of the world economy.

 

It is expected to hold a press conference, on Thursday evening, is the announcement of the results, which will be reached, in particular the production ceiling of the Organization during the coming period.

 

No deduction

 

Despite the call a growing number of countries, "OPEC", led by Venezuela, to reduce production to improve prices, which have lost 60 percent of their value since mid-2014, but analysts say he is unlikely to accept Saudi Arabia and its allies the Gulf so.

 

As in June, is supposed to keep the oil ministers of the OPEC countries, and Indonesia, which date back to the organization after an absence of six years, to the selected output theoretically thirty million barrel ceiling per day, though a large number of cartel members have hinted that the consultations are continuing to reach Agreement.

 

He said Iraqi Oil Minister Adel Abdul-Mahdi Thursday: "Nothing has been decided, and we are still debating." But Saudi Oil Minister Ali al-Naimi has said Tuesday upon his arrival in Vienna that the meeting will address to all subjects, and results are not a foregone conclusion.

 

Circumstances have changed

 

The star of the drop in oil prices to a large extent on OPEC policy, led by Saudi Arabia, which is sinking black gold markets in order to reduce booming fuel shale oil in the United States, and the policy of non-members of the cartel, especially Russia, which was produced record levels recently.

 

But experts believe that the Gulf states, keen to keep their quotas on the market while Iran is preparing for the big return, will not accept to reduce its output by producers outside OPEC vows not to walk in this way as well. But Moscow and Iran do not seem ready to settle of this kind, because they are considered to decline in the markets caused mainly OPEC surplus production which does not respect the ceiling set.

 

He said Russian Energy Minister Alexander Novak Russian news agencies: "We said many times that we do not consider it appropriate to reduce the size of our production because the conditions are no longer the same for us, climatic conditions and production conditions, and I do not expect major changes during today's meeting, which would not participate Russia, But it would be appropriate to respect the quotas set by the OPEC. "

 

Will not give in to pressure

 

Iranian Oil Minister Bijan Zanganeh said that Iran would not yield to pressure in order to avoid increasing its oil production after the lifting of the sanctions despite a drop in prices. He told reporters upon his arrival in Vienna: "We do not accept any discussion on Iran's oil production increase after the lifting of sanctions."

 

"It is our right" to increase production, stressing "it produced in the member states of OPEC and other countries that produced more than the ceiling on liability."

 

Venezuelan President Nicolas Maduro said in remarks national radio Tuesday that Venezuela hopes that all countries respect the OPEC production ceiling, "and is considering a project to cut production by 5 percent."

 

Fouad said Razzaq Zadeh, an analyst at "Goin Capital Trading Group," a group "with Indonesia, which will return to the OPEC extra next and production of Iran, it is hard to think of a reason to give up Saudi Arabia and members of other important for market shares have made strenuous efforts to keep them in the last year ".


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OPEC sticks to its production ceiling and oil prices falling apart

 

 

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5/12/2015 0:00 

 BAGHDAD - morning 
came Organization of Petroleum Exporting Countries «OPEC» meeting in Vienna's decision to raise the production ceiling to 31.5 million barrels per day, an increase of a million and a half from the previous rate of production in light of a vague inclusion of Indonesia belonging to the Organization's newly output ceiling or not. 
According to informed sources in OPEC forecasts that preceded the meeting pointed to the member agreement to keep the production ceiling as it is seeking to put an end to the prices, which have tumbled to nearly forty dollars. In response to the output of the OPEC meeting in Vienna we recorded oil prices down at a rate of 2 percent, where futures contracts for Brent crude dropped to $ 43 while futures for US crude recorded a decline toward $ 40 a barrel. 

Abdul-Mahdi: 70-75 dollars a fair price for oil

 

 

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5/12/2015 0:00 

Prices go up in conjunction with the ministers of {OPEC} meeting 
 Baghdad follow up the morning 
at a time when oil minister Adel Abdul Mahdi revealed, on Friday, hope to reach an agreement to help lift oil prices, it returned to the fair price of oil is 70 - $ 75 a barrel , likely a high-level source within the organization - OPEC - not to modify the oil production ceiling currently of 30 million barrels per day, despite the presence of conviction within the organization imbalance between supply and demand level. 
«Reuters» and quoted Abdul-Mahdi as saying on the sidelines of the OPEC meeting in Vienna: The « average price of Iraqi crude production will rise to 4.5 million barrels per day in 2016 », after Zadeh strongly in 2015, stressing that« Iran has the right to increase production after the lifting of Western sanctions imposed on it. 
It was Abdul Mahdi said on Thursday Iraq's position on the Saudi proposal when he said: he ready for an open debate on the oil cut in the OPEC group. The senior source in OPEC that there are indications that demand for crude oil will see next year's rise means the importance of maintaining the current production rate without change. He added that the OPEC ministerial meeting see production levels current prices, particularly the recent deterioration in prices, they returned the current circumstances, it does not allow a change of the output. The source expected that the recovering oil prices gradually next year and settle between the level of $ 50 and $ 60 by the end of 2016. A spokesman for the Oil Ministry, Assem Jihad said Tuesday that preliminary exports for the month of November for the year 2015 it has seen an unprecedented increase in the daily rate did not materialize for decades. Jihad said, in a press statement: that the daily average of exports stood at 3.365 million barrels and that the total quantity exported amounted to 100 000 945 thousand and 867 barrels. The rates took Oil rise in volatile trading on Friday with ready OPEC ministers to start their meeting. where futures contracts for Brent crude rose 29 cents to $ 44.13 a barrel after it fell earlier this week to $ 42.43 to near the lowest level in six and a half years recorded in August, futures rose for US crude 28 cents to $ 41.36. Prior to the meeting, said UAE Energy Minister: OPEC should cooperate with non-Member States and that the organization would welcome such those discussions, but added that the oil market will determine when to equilibrate. The minister said Suhail Al Mazroui : The sustainability of the oil supply source of concern is more important than concerns about the prices. While Venezuela's oil minister said on Friday that his country will call for OPEC cut production by five percent. He said del Pino Venezuela is not the only one worried about the decline in oil prices over the last twelve months to about $ 45 a barrel to near their lowest levels in nearly seven years. The Saudi Arabian Oil Minister Ali al-Naimi said yesterday that global demand growing unable to absorb the jump expected in Iran next year's production, while Iran's oil minister said he expected to extend the OPEC action current production policies . Saudi Arabia was recently suggested OPEC cut production in coordination with producers from outside the organization. The bulletin Energy Intelligence Thursday that Saudi Arabia is the largest producer in OPEC may propose to the members of the organization to cut production million barrels per day next year if producers are joined by non-OPEC for this step, and if they Iraq agreed to install its production at the current level of Iran participated in the cut. It was al-Naimi had said Tuesday upon his arrival in Vienna that the meeting would address all the topics and results are not a foregone conclusion. The oil prices recorded a significant rise Thursday taking advantage of the dollar's decline against the euro on the one hand and hope in OPEC to reach agreement encouraging markets. said Bernard or analyst in the «IG Markets» group in Singapore: With that record oil rose for a second day in a row before the OPEC meeting, there is no reason to satisfaction.
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Abdul-Mahdi: OPEC does not bear the burden of reducing oil production alone

 

 

         

6/12/2015 0:00 

 BAGHDAD - The morning 

saw oil minister Adel Abdul Mahdi said OPEC should not alone bear the burden of reducing oil production, pointing out that producers from outside the organization do not have a roof productive. 

He explained Abdul-Mahdi, in a press statement he made ​​after the end of the Organization of Petroleum Exporting Countries meeting oil (OPEC) in Vienna, that "the Organization should not alone bear the burden of reducing oil production." Oil Minister told reporters that "We must control all of the oil market," adding that it "is not obligatory only for OPEC to effectively regulate the market." He asked Abdul-Mahdi, "If producers are not OPEC members do not have a roof productive, why OPEC should have a roof?". Comes Abdul-Mahdi's comments after he decided to OPEC countries to raise production to 1.5 million barrels per day, to be a daily total of 31.5 million barrels , while oil prices have declined more than 2 percent after the decision.

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Our economy / Dubai


I left the last output for the meeting of the members of the Petroleum Exporting Countries "OPEC" a lot of opinions and responses disparate acts in the world oil market, especially as the tension was present after the end of the meeting, which resulted in maintaining current levels of production as it is, recognizing lifting roof production quotas Member States for 31.5 million barrels per day from 30 million barrels per day.


Oil market experts and observers believe that the "OPEC" The decision had been expected, and keep production levels at their current will not lead to significantly drop in price, and argued that the previous declines of price levels have led completely to stop the growth of shale oil, and predicted that there would be the effects of this decision which stop growth Iraqi oil production; the lack of the necessary investment and maintenance funds.


Said chief economist oil expert NGP company American Dr. Anas Al-Hajji: The OPEC decision output at current levels will not lead to a significant decline in prices, as some believe for several reasons, especially that falling prices requires an increase in production, and the world now are all producing at maximum capacity productivity, which means delay phase balance in oil markets to the second half of 2016.


He has seen the last period within declines Price effects of a complete halt to the growth of shale oil, and that the current decision of OPEC to maintain production levels as they are, will deliver more pressure on US oil companies with oil prices low being unable to do any new drilling operations, and the growth of oil production Iraq may stop; the lack of adequate investment and maintenance funds.


For his part, the former leader of the oil sector, Saudi Osman Khwaiter is expected that the current indicators continue as they are by the "OPEC" meeting without any changes.


It is likely that declining price levels to below forty dollars a barrel, has become the truth closer than to just guessing, and if that happens, it means that there are nations will sell its oil at less than cost price, including Russia, and in such cases will decrease the level of production , long price low price will not last but will return to rise in response to the demand within the market levels.





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3 to face the decline in oil prices Solutions

 

 

         

7/12/2015 0:00 

 BAGHDAD - Mostafa Hashemi 

after he decided to OPEC to keep oil production for its members roof level, show the need for Iraq's dependence on other sources that would expand its financial resources to cope with the drop in oil prices due to glut in supply, according to experts, the trend first includes open the way for investment in gas and petrochemicals, and the second approach is to rely on increasing the gross domestic product through the activation of the industrial sector and to reconsider the rounds of licenses. 

And the best solutions to cope with the drop in oil and its impact prices in Iraq balancing economic expert, Dr. appearance Qasim said that appropriate now to launch investment in the crude sector opportunity such as gas and petrochemicals and reduce dependence on oil as a resource omnidirectional general budget of the country. 

He said Qasim «morning» that this type of investment would also fills the need of importing gas and achieve self-sufficiency for domestic consumption, pointing to the importance of expediting activate this aspect for the service of the national economy . 

 economic expert felt that the move would also reduce the dependence on external loans and provides the opportunity to achieve growth in GDP through increased employment opportunities in the energy sector. 

In turn opinion of the Iraqi Institute adviser for economic reform, Dr. Ahmed al-Husseini said there are two things than would be help Iraq to counter the drop in oil prices and its repercussions on the economy in general. 

He said al-Husseini told the «morning» to reconsider the rounds of oil licensing is absolutely imperative, especially after the organization last OPEC meeting, which resulted in a decline in crude oil prices and cause Ptkhmh supply in global markets. 

He added: It's the second respect to the operation of government industrial sector which would actively contribute to the achievement of the gross domestic product of the country's growth, and identify waste of Iraq's money on imports of cheap and inferior materials can be produced and its industry locally. 

And that there are shortcomings and obvious in shedding light on domestic production through and a weakness in the Advertising and Marketing What is the effect in the absence of the national product in a position to absorb this production local markets.

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Despite expectations of OPEC decisions to reduce the impact on prices

 

 

         

8/12/2015 0:00 

 Singapore (Reuters) - 

landed in crude oil prices on Monday in the first trading session after the failure of OPEC members to agree on a target for production to reduce the glut increasing supply that led to the fall in oil prices more than 60 percent since June 2014, in time Total oil company is expected not a lot of pressure occurrence on crude oil prices in world markets after the OPEC decision. OPEC did not agree on a limit to the production of oil on Friday during a meeting witnessed a dispute between Saudi Arabia and Iran to issue a final statement for the first time in decades without mention of the ceiling of production, who was 30 million barrels a day. 

Barclays said: «at least the previous data indicate commitment. . or maintain production at the target level (of 30 million barrels per day). It is clear that this statement did not include it. Analysts said that the organization sends by giving up its production restrictions a letter to other producers such as Russia and producers of shale oil in the United States that it was ready to accept the low oil prices to defend its market share. 

The Bank of Oo.sa.ba.sa: «OPEC sends warning to rivals that any reduction of production falls on their shoulders).) to that CEO «Total» French Patrick Bojan yesterday announced that he did not expect pressure on oil prices after the Organization of Petroleum Exporting Countries decision (OPEC) Friday not to impose a ceiling on production of crude, and to keep the production at high levels .olm «OPEC» agree on a new production quota Friday, they allowed the Member States of the Organization to resume pumping more than 31 million barrels of oil per day, increasing the oversupply that led to lower Alosar.oukal Bojan: «We do not expect a recovery in 2016 ( oil prices), because the increased supply will be larger than the increase in demand in 2016 ... I'm not very optimistic year 2016 ». Expected to supply non-members of «OPEC» will fall. 

He said: «the width of the outside« OPEC »will shrink ... should be seeing a contraction in the US production in mid-2016)). 

The total US crude price of $ 39.63 a barrel at 0718 GMT was down 34 Santa.hobt GMT, Brent crude 20 cents to $ 42.80 a barrel. And make this the price of each of the already allocated indices near its lowest level for 2015 and not far from the level reached during the height of the global financial crisis in 2008-2009.

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178298Image1.jpg
OPEC headquarters

Roudao - Arbil

suggested "OPEC," the Organization of the decline of oil supply from non-Member States larger next year, an expected increase in oil production in Russia increased by 20 thousand barrels per day. The Organization of the Petroleum Exporting Countries in a report, that the supply from outside the organization would go down 380 thousand barrels a day in 2016, to reach 57.14 million barrels per day in average.predicted Organization "OPEC", which produces about 40% of the oil production in the world, last month, a decline of 130 thousand barrels per day, while decided not to cut current production levels of about 31.5 million barrels currently. According to "OPEC" estimates that demand in the current year will grow by 1.53 million barrels per day, to reach 92.88 million barrels per day, as the organization predicted in its report a slowdown in global oil demand growth in the coming year.

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Same Subject...


616023_iktsandd_main_New.jpg
 

The weekly report of the Bayan Investment Company confirmed that the Kuwait Stock Exchange continued negative his performance for the second week in a row, where he finished the week's trading registered collective losses for the three indicators, succumbed to a wave of indiscriminate selling, which included many shares in all sectors listed, and in light of the continued decline in the morale of traders in the market after successive declines recorded by oil prices, especially after the organization's decision (OPEC) not to cut current production levels, which led to a decline in the price of a barrel of oil near the level of $ 30 and bringing them to the lowest level this year. 
It seems that the organization's position (OPEC ) on maintaining the current production levels will not change in the near term, because in spite of the pressures faced by the organization to cut production, but they decided to keep the current levels to maintain market share, and regardless of the validity or error this decision, what we are seeing now As a result, it further decline in oil prices, and more losses for exporting countries Item vital, of course.
It is worth mentioning the large declines taking place in oil prices since the middle of last year until now considered as a great opportunity for these countries to diversify their sources of income that, particularly Kuwait, which is one of the most countries of the world, depending on the source of almost single income which is oil. Kuwait has the financial surpluses national and experience what it takes to cross the crisis bleeding oil safely rates, through the employment of these surpluses in the form required, and reliance on the private sector to lead the locomotive of economic development in the next stage . 
On the other hand, proved agency Fitch Ratings sovereign rating to Kuwait for 2015 at the rank (AA) with a stable outlook, the agency said that the general revenues of the state has decreased by 45% during the first half of 2015 as a result of falling oil prices, while public spending has fallen by 20%. The agency said in its expanded from Kuwait that most of the structural indicators of the state weaker than peers classification (AA), and less than the averages of the Gulf Cooperation Council (GCC), especially in the area of each of the indicators of doing business, and human development indicators, and indicators of the governance of the World Bank. The agency noted that Kuwait relies heavily on oil resources, where the oil sector, about 50% of GDP, indicating at the same time that the economic tools that put the government in response to extreme fluctuations in global oil prices is limited. 
It should be noted that the continuation of the decline in oil prices might, God forbid, will affect the credit rating of Kuwait, as it will reduce the dramatic decline witnessed in oil revenues of merit Kuwait credit if oil revenues continue is the source of almost the only income for the state, what makes it imperative to work on an urgent economic reforms help to diversify sources of income In order to keep the creditworthiness of the country. 
Going back to trading Kuwait Stock Exchange, the three indicators have been closed in the red zone for the second week in a row, which ended last week's trading registered varying losses under selling pressure, which included a wide range of leadership and small stock limit whether. The market has seen this performance in light of the continued presence of some negative factors of continuation of oil prices, severe decline, in addition to the lack of emergence of new incentives in the market contribute to the return of purchasing activity. 
This reached the capital value of the Kuwait Stock Exchange at the end of last week to 25.86 billion d .K. A decline of 1.11% compared with the level in the previous week before, which was KD 26.15 billion While on the yearly level, the market capitalization of listed companies in the market recorded a decline at a rate of 7.57% from the value at the end of 2014, reaching its time 27.98 DC billion 
price index and closed with the end of the week at 5,686.15 points, registering a decline of 1.77% for closing level in the week before last, while the weighted index recorded a loss rate of 2.06%, closing at the level of 386 points, and Kuwait index closed at 15 914.80 points, a loss rate of 2.59% from the week before closing in the past. This market has seen a rise in the average daily turnover rose by 36.89% to reach KD 13.31 million Almost, while the average record volume traded grew by 2.67%, to approximately 111.68 million shares. 
On annual performance indicators for the three market-wide, with the end of last week, the price index recorded a decline from the level it closed at the end of the past year at a rate of 13%, while the percentage of weighted index decline since the beginning of this year, 12.05%, while reached the low Kuwait index of 15 to 13.69 percent, compared with the level it closed at the end of 2014. The sectoral indices recorded ten of the Kuwait Stock Exchange sectors of the decline of the red zone at the end of last week, as record sectors the remaining two limited growth. The export sectors of financial services, which recorded a decrease sector, as it closed its index at the end of the week at 610.64 points, registering a fall of 2.88%, followed by basic materials in second place as the index record weekly loss rate of% 2.83, closing at the level of 992.43 points, while the Consumer Services sector came in third place. as its index recorded a decline a week at a rate of 2.78%, closing at 1,022.37 points.trading sectors served the financial services sector first place in terms of trading volume during the past week, as the number of shares traded Sector 228.55 million shares almost, formed 40.93% of the total market trading volume. The real estate sector took the second place, as it has been trading around 155.88 million shares of the sector, representing 27.91% of the total market trading volume, while the third place. went to the banking sector, which The percentage of the size of the market turnover of 10.40% after hitting 58.05 million shares.

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