Sumo describes the strategy of OPEC as "successful" and confirm: oil price fluctuations during the year

2016/06/03 18:18


Description oil marketing company SOMO, Friday, OPEC oil market strategy of "successful", referring to the oil sector investment downturn, fluctuating oil prices confirmed during the remaining period of the year.

He said oil marketing company SOMO Director (SOMO) peasant Ameri in comments from OPEC headquarters in Vienna, according to the Reuters site and vassal (long press) she left OPEC market working alone and these proved competitive strategy success so far is due to damage to the movement.

Ameri added that "investment in the oil sector in decline now, when investment returns to the market, this might take a year or two to produce more oil for the market," he said, adding that "the moment OPEC strategy of going well."

Ameri noted that "any negative condition may come from OPEC will face a potential decline in demand for oil," expressing "his expectations of price volatility over the remaining period of this year."

Ameri said, "oil prices may continue at current rates for a few months and then take another turn during the final months of this year," absolutely true that "it will depend on the probability of decline in demand and oil supplies remain stable or increase their rates.

Index was Brent register, on 26 May 2016, rose by 1.2 percent to 50.34 dollars a barrel for the first time this year, with analysts attributed the rise to increased demand for crude oil from the world's top oil consumers, oil prices continued to drum up r this year.

World oil prices have fallen more than 70 percent compared to summer 2014 last, any more than a hundred dollars to less than 30 dollars a barrel, resulting in damage to the economies of countries that rely on "black gold" as their only source of income, including Iraq.