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OPEC decides to keep the current Allanth and postpone the vote on the Secretary General to the next September

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OPEC decides to keep the current Allanth and postpone the vote on the Secretary General to the next September Empty OPEC decides to keep the current Allanth and postpone the vote on the Secretary General to the next September

Post  Admin Fri Jun 15, 2012 11:51 am



Friday, June 15, 2012 14:25



Baghdad {: News} Euphrates and the Oil Ministry announced that the decisions of the OPEC meeting last night was the retention of the current production ceiling of the organization unchanged.

Ministers reviewed - During their meeting No. {161}, which ended late last night at the organization in the Austrian capital Vienna under the chairmanship of Karim Allaibi Iraqi Oil Minister - recent developments the oil market and supply and demand trends, as well as the outlook for the second half of 2012.

The Ministers considered that the increased price volatility in the global oil market during the current year is a reflection of the political tensions and high levels of speculation in commodity markets.

Jihad said in a statement received by the Euphrates {News} a copy of it Today that "OPEC decided at its meeting yesterday to keep the current production ceiling of the organization without change."

"The OPEC also decided to postpone the vote on the post of Secretary-General of the Organization to the month of September next."


And OPEC is an international organization comprising Atnaashrh country dependent on oil exports heavily to achieve their income. And abbreviated its name to OPEC and OPEC members work to increase revenues from the sale of oil in the global market. Member States have in this organization 40% of global output and 70% of the world's oil reserves. Was founded in Baghdad in 1960, by Saudi Arabia, Iran, Iraq, Kuwait and Venezuela, based in Vienna. Ended


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