Freeze production agreement prospects in international oil prices fell more than 3%-happynewyear

Freeze production agreement prospects in international oil prices tumbled more than 3% international oil prices fell 3% on Monday, the dollar and the market for frozen production agreement worries weighed on the market, OPEC secretary general statement did not appease the market confidence. OPEC Secretary General Barkindo said Monday in an interview with Bloomberg, OPEC’s 14 member states and Russia and other non members were expressed in the November 30th meeting of the group in an agreement to control global overcapacity desire, even if Iraq for yield immunity, also said to the Algiers agreement, willing to become a part of the agreement. Barkindo position, the international oil price decline continues to expand from 2% to more than 3%. OPEC agreed in September 28th the first eight years of production agreement in Algeria’s capital, Algiers, to control the organization in production of 3250-3300 million barrels, equivalent to a maximum of 900 thousand barrels, the international oil price by this support once stood above $50. The recent oil price fall, the market worried about the Algiers talks can be realized, such as Iran, Iraq, Libya and Nigeria are exempt from Russia for production, limited production commitments are similarly dubious, the recent OPEC and non member countries between the outcome of the negotiations is caused by market sell-off. According to reports, last weekend in Azerbaijan, Brazil, Kazakhstan and OPEC, Mexico, Oman and Russia and other non member talks in Austria Vienna, all these countries refuse to reach agreement on OPEC commitment before freezing and limiting production or limited production, Brazil and Kazakhstan even after the meeting put forward plans to increase production. In this regard, Barkindo said the current forecast how many non OPEC countries are willing to join the ranks of production is still too early to freeze. At present, OPEC is also into the distribution and yield of production evaluation in the debate. Technology Forum held in the last week of OPEC oil producing countries, parties dispute on how to distribute the limited production share issue. Iran, Iraq and Venezuela have raised objections to OPEC’s oil production assessment, which on Sunday released data on major oil fields in the country to prove that OPEC has underestimated its output. As of press time, January 2017 Brent crude contract fell 3.5% reported $49.19 a barrel of WTI crude oil contract in December plunged 3.2% reported $47.22 a barrel.相关的主题文章: