The president of the Organization of Petroleum Exporting Countries (OPEC) Mohammad bin Saleh Al-Sada, said Monday that by the end of year they expect an increase in the price of crude.
Through a statement posted on the website of OPEC, bin Saleh said that a number of factors cast that the current market at low cost is temporary and the “oil prices would increase during the last part of 2016. ”
& gt; & gt; OPEC will evaluate Venezuelan proposal to production bands
He said the member countries of the organization continue their exhaustive analysis of the situation, and are “in constant discussion on ways and means to restore stability and order the oil market. ”
It also indicated that OPEC member countries will have an informal meeting in the next XV International Energy Forum, to be held in Algeria from 26 to 28 September.
& gt; & gt; OPEC meeting without an agreement to freeze oil production
In context
Fears over oversupply of oil in the world, has caused average prices remain below what is customary in international markets.
In the period between 1 and 5 August, the average price of OPEC crude stood at 38.88 dollars.
& gt; & gt; OPEC president: Oil fair price must exceed $ 65 a barrel
The West Texas Intermediate (WTI), the main indicator for the United States, closed with an average value of $ 40.79, while Brent, european flag, scored 42.97 dollars.
No comments:
Post a Comment