At a press conference, the secretary general of OPEC, Abdullah Salem El-Badri, appreciated that the strategy to freeze oil production in dimensions January will help to improve the behavior of stock prices.
the price of reference basket of the Organization of Petroleum Exporting Countries (OPEC) on Wednesday stood at $ 36.19 per barrel, equivalent to a decrease of 48 cents compared with Tuesday’s session when settled at $ 36.67, according to figures from the Secretariat of the group reported Thursday on its website.
in his most recent meeting with the media, President Rafael Correa stressed the importance of the meeting of April 17 and stressed that Ecuador will insist on its position, which “has always been to control production and even decrease, if necessary, for prices to recover.”
Members OPEC in the Persian Gulf area support an agreement even without the participation of Iran, sources have said the oil cartel.
Badri said he expected oil prices, which on Monday was operating at $ 41 a barrel after reaching a 12-year low at $ 27 in January, will rise more if you can remove excess supply. “I do not expect the price to rise much but I think it will be at a moderate pace”.
It also indicated that the main problem of the market are currently 300 million barrels of inventory and the need to progressively reduce this amount .
Some OPEC delegates said they could take more action to year end including a cut pumping, after the agreement freezing.
“Let us carry forward the freeze production and see what happens, then discuss further steps in the future. “
No comments:
Post a Comment