10/01/2016
The price of a barrel of crude oil during trading on Friday to $ 50 after a surprise decision by the Organization of Petroleum Exporting Countries «OPEC» to cut oil production, leading to a rise in world oil prices.
According to the Agency for International Tasnim news agency that the Organization of Petroleum Exporting Countries «OPEC» at its meeting on Wednesday lowered its oil production to the range of 32.5 to 33 million barrels per day.
This goes against what analysts had expected, experts in the field of economics that oil production in «OPEC» will decline at a rate of 200 thousand to 700 thousand barrels per day compared to the last months of the calendar.
He guessed Analysts said the onset of winter and the increasing demand for this product is predicted the possibility of cooperation with members outside the «OPEC» with driving up world oil prices.
In contrast , the price of a barrel of oil "Brent" in international markets to $ 50 after the decision «OPEC» to cut its oil production Maani price rises to approximately four dollars compared to previous days.
The price per barrel of US light crude had risen 22 cents to $ 48.05 and reached the close in New York in the trade market.
It is expected the accelerated pace of rising world oil prices , with the position of producers outside OPEC , which Eetmha with the organization 's policy to cut oil production.
Reply With Quote