Report: Russia, however, the fate of oil in 2016 2/4/2016
Report: Russia, however, the fate of oil in 2016
2/4/2016 0 Comments
Deployment site «Business Insider» an article in which he said that the strategy of Russia in the oil market will be a key factor to start rising price of black gold crumbling.
The company «RBC Capital Markets» Consulting believes that the oil market will receive considerable support in the event of the Organization of Petroleum Exporting Countries «OPEC» decided and especially Saudi Arabia, the organization's largest producers, and countries outside the «OPEC» like Russia to reduce production.
Among the signs that show the start of negotiations between Moscow and Riyadh on reducing production sheds location light on the recent series of meetings between Russian President Vladimir Putin and Crown Saudi Crown Prince and Defense Minister Mohammed bin Salman, and that the signing of agreements in various fields of common such as investing and weapons have been through it.
And transfer Mogah «Business Insider» the words of an expert in «RBC Capital Markets»: «We believe that the current dialogue channels can be used for coordination between the two sides in various fields».
The price of oil has jumped by about 8 percent last week on the back of comments by Energy Minister Alexander Novak, during which he expressed Russia's willingness to participate in a meeting with «OPEC» in February to discuss the situation in the oil markets, pointing out that the focus of discussion during the meeting may be reduced each country's oil production by up to 5 percent.
In turn, a source in the «OPEC» announced that Riyadh was ready to cooperate in the oil market management, provided that all cooperating producers inside and outside the organization, according to news «Reuters» agency for the newspaper «life» Saudi Arabia.
The source told the newspaper «It is still early to talk about an emergency meeting of the organization, especially as the volume of oil would seek Iran to pump into the market after the lifting of the sanctions, is still unknown, it will not be determined exactly at least two months from now».
The oil markets are suffering from a glut in supply, which raises the producers in the market between one million and two million barrels per day above the level of demand, which gives importance to any efforts between oil producers in the world to curb the production and support oil prices.