"OPEC" meeting in Vienna .. complications looming talks

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"OPEC" meeting in Vienna .. complications looming talks

Post  Admin on Fri Oct 28, 2016 9:54 am



Vienna -arac Press October -28: "OPEC" officials began talks in Vienna on Friday, aims to develop the details of their agreement to cut oil supply , which acknowledge that it is becoming increasingly complex every day.

Committee meeting to attend high - level OPEC governors and representatives of countries who who report to the minister.

The Organization of the Petroleum Exporting Countries agreed last month in Algiers to cut crude oil production to a range between 32.50 and 33 million barrels per day in the first cut since 2008 in order to raise prices.

But the deal faces potential setbacks because of Iraq 's claim exemption from it, and the demands of countries such as Iran, Libya, Nigeria affected their production as a result of sanctions, war and want to increase supply.

He said OPEC delegate before the start of today 's meeting: "It is becoming increasingly complex in .. appear every day a new issue."

But other OPEC officials, including Secretary - General Mohammed Barkindo say they are optimistic about reaching a final agreement.

The Committee does not decide on the policy, but it will make recommendations for the ministerial meeting of OPEC in the next November 30 to be held in Vienna , too.

The Committee is considering issues such as the size will produce an every member of the fourteen Organization.

The meeting will continue until Saturday to be attended by representatives of the States that are not OPEC members want the organization should also contribute to curb supplies.

And non - members of OPEC , which will send representatives to the talks Saturday are: Russia, Kazakhstan, Mexico, Oman, Azerbaijan, Brazil, Bolivia.anthy (1)

http://www.iraqpressagency.com/?p=220331&lang=ar

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Re: "OPEC" meeting in Vienna .. complications looming talks

Post  Admin on Sat Oct 29, 2016 10:39 am

Iran's OPEC meeting .. hinder reaching an agreement to cut production

VIENNA Iraq Press October -29: Sources of the Organization of the Petroleum Exporting Countries (OPEC) that the organization gathered officials in Vienna to finalize their plan to cut oil production details did not reach an agreement after talks lasted hours Friday amid opposition from Iran , which refuses to even install production.

One source said that the high - level committee of experts will meet again in Vienna on November 25 before the next meeting of OPEC ministers on the thirtieth of the same month "to complete the individual quotas (production quota for each country)."

Saturday , experts will meet with representatives of producers outside OPEC want to cut their contribution to the organization supplies.

One source said : "Yes, we will continue ( the meeting) with the producers outside OPEC , " he said , adding that it is not reached "full agreement because Iran refuses to install production."

Another source said , "We have not finished all of the things. We look forward to the next meeting on November 25 to complete the individual quotas. "

High - level meeting of the Committee of Governors of OPEC and representatives of countries who who report to the ministers concerned composed. The talks lasted more than 11 hours Friday and Iran appear to main stumbling stone preventing a deal.

A source at OPEC , "There is no agreement yet, everyone would agree , except for Iran , " he said , adding that Tehran 's claim exemption.

He said OPEC delegate before the start of the meeting , "It 's getting complicated .. every day appears a new problem."

But other OPEC officials, including Secretary - General Mohammed Barkindo remained optimistic.

Barkindo said in a speech at the meeting according to the text presented by OPEC "Our consultations today - and tomorrow , with some producers are not members of OPEC - could have profound consequences for the market and the industry in the medium to long term." End quote (1)

http://www.iraqpressagency.com/?p=220444&lang=ar

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