I am not sure if this is a threat or a promise.... Time will tell!

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I am not sure if this is a threat or a promise.... Time will tell!

Post  Admin on Tue Jan 27, 2015 10:13 am

Badri warns of rise in oil prices to $ 200 in the event of declining investment

Tuesday January 27, 2015 11:15

Alsumaria News / Baghdad
Warned the Secretary General of the Organization of Petroleum Exporting Countries (OPEC), on Tuesday, from high oil prices to $ 200 in the event of declining investment.

Said Abdullah al-Badri on the sidelines of a conference at the Royal Institute of International Affairs in London, said that "oil prices at current levels probably reached its lowest levels decline, has been moving up very soon," warning "the risk of a significant rise in crude oil prices in the future to $ 200 a barrel If severely decreased investments in new production capacity. "

He Badri in "If you do not invest, there will be more supply before, and will happen shortage in the market after three to four years, and the prices will rise, and we will see a repeat of what happened in 2008 may reach $ 200, if there is a real shortage of supplies due to a decline investments. "

Oil prices fell on world markets to below $ 50 at a time of increased during the middle of last year to more than $ 115 per barrel.

It consists basket OPEC of 12 Khama, a mixture of the Algerian Sahara ore Girassol Angolan Iranian heavy crude and Basrah Light Iraqi export Kuwaiti and Libyan Sidr and Bonny Light Nigerian maritime Qatari light and Saudi Arabian and Murban UAE and Mary Venezuelan Orient from Ecuador.

The Petroleum Exporting Countries (OPEC), which was founded in Baghdad in 1960 by agreement between the five countries are Saudi Arabia, Iran, Iraq, Kuwait, Venezuela, and is headquartered in Vienna, one of the largest supervising international organizations to regulate the export of oil and set the prices, and has a current membership of 12 countries oil exporter, has a whole between two-thirds and three-quarters of global oil reserves.



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