Experts: freezing production will raise the price of oil to $ 80 .. and Iraq need to develop infrastructure

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02/21/2016 12:01:00 am

He specialists in Shan oil, on Saturday, that the success of the Doha meeting and acceptance of Iran to freeze its output will increase oil prices to nearly $ 80, while Benoit Iraq needs to develop its infrastructure to accommodate the increase in production.
A source in the Iraqi Oil Ministry said that Iraq is ready to freeze its oil production at certain rates to support oil prices, among that this issue is related to the agreement of the oil producing countries of OPEC and outside.
The oil expert Hamza Jeweler in an interview for the "long" that "Iraq is one of the largest affected by the drop in oil prices to put it more than once, plans to reduce OPEC production to support prices."
"The amount of oil exported by Iraq for the month of January amounted to 3200000 million barrels of central and southern fields."
The jeweler said that "Russia is the biggest loser because of low global oil prices, which leads the world production of oil and gas prices, which are linked directly proportional to the oil market, which caused her great losses in almost a year and a half."
He said the "quartet meeting in Doha is considered politically - economically par excellence, where nations gathered to exchange political concessions around the area is reflected on the oil economy and raise the price of a barrel to $ 80 within a period not exceeding two months."
He added that "Kuwait and Saudi Arabia, the UAE has the largest share of global output and can through this franchise control oil prices to support the surplus from the market and of 5%."
He noted that "the completion of a slim chances of the agreement because of the conflicting interests of the nations gathered in addition to Iran's refusal to freeze its production originally little after the lifting of economic sanctions against it."
The Iranian oil official detect oil meeting will include representatives of Iraq and Venezuela in Tehran to discuss oil market conditions.
The jeweler said that "Iraq needs to develop its infrastructure in parallel with developments in the production increase is derived from service contracts with foreign companies, estimated at 100 to 300 000 barrels per day."
He added that "freeze increases in the amount of exports produced by OPEC countries and non-OPEC nations Liberal for a period ranging from one year to two years could raise the price of oil and its stability comes back again."
A source in the Iraqi Oil Ministry on Tuesday (February 16, 2016), in a statement published on the (Reuters) seen by the (range), said that "Iraq is ready to freeze its oil production when the rates of the month of January if an agreement is reached between OPEC member countries and other producing countries from outside OPEC to support oil prices. "
The director of international affairs of the National Iranian Oil Company, Mohsen Gamsara in remarks to the site and the Russian Sputnik News I followed (range), "The representatives of Venezuela, Iran and Iraq will hold a meeting tomorrow in Tehran to discuss the oil market situation."
Since the collapse of oil prices in the first half of January and outside the OPEC group, officials from the Organization of Petroleum Exporting Countries sought to hold meetings to discuss the issue of the deterioration of oil prices, which have caused huge financial problems for some countries.
Said Oil Minister Adel Abdul Mahdi, on Thursday (February 18, 2016) that the talks would continue between Member States and non-members of the Organization of the Petroleum Exporting Countries (OPEC) in order to strengthen prices.
The minister's comments came a day after a meeting aimed at trying to reach a global agreement to freeze production levels but ended without a decisive outcome.
In a first reaction to the Iraqi minister since the meeting of ministers of Iran, Iraq, Qatar, Venezuela's oil in Tehran on Wednesday, Abdul-Mahdi said he was "imperative for the producing countries to find solutions to return prices to their levels of" natural "and that the rapprochement between OPEC and producers outside step in right direction. "
And reached Saudi Arabia and Russia, two of the top exporters in the world to the center of a sudden solution earlier this week was to freeze production at January levels approaching the highest level ever, provided that the other producers to join the agreement.
He said Gulf producers of OPEC are Qatar, Kuwait and the United Arab Emirates in addition to Venezuela, they will join the Russian Saudi Arabia, which aims to reduce the growing glut of supply and contribute to the recovery of prices from their lowest levels in more than ten years of the agreement.
Iran, however, the biggest obstacle that stands in the face of the first agreement since 2001 between producers inside and outside OPEC remain as pledged substantial increases in production to regain market share lost during the period of sanctions. The sanctions were lifted last month after an agreement with the international powers allowed Tehran to resume selling oil freely on world markets.