Oil: OPEC will meet on the 27th of this month to take a position on falling prices

11/19/2014 12:06

Tomorrow Press / BAGHDAD: The Iraqi Oil Ministry, Wednesday, that OPEC will meet on the 27th of this month to take a position on the decline in world oil prices, indicating that the international political will behind the falling prices.

He said ministry spokesman Assem Jihad for "tomorrow Press", "The decline in world oil prices has an impact on the economy of Iraq and the members of OPEC among them Iraq will meet in the 27th of this month to discuss the issue of the decline in world oil prices and will take a certain position after studying the subject and Mnaqsthemen to stop erosion Oil prices retreat and work on stability. "

"The decline in oil prices is linked to several factors, including reduced growth in some major economies in Asia and rising US inventories and a lack of demand for crude oil and another section is likely to recent developments in the region, but developments and crises usually raise the prices are not that reduce them."

Jihad said that "lower prices in light of the crises in for the first time gets, ought it to rise, because the agents are on the scene to help the rising prices are not reduced," he said, adding that "the decline of this limitation is reasonable and there is inevitably an international political will, proceeded to cut prices."

Jihad said that "the victim of the price drop a number of countries, including Iran, Russia and Iraq."


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Parliamentary Finance: 2015 budget is based on oil prices Source

BAGHDAD - Iraq Press - November 20: confirmed member of the parliamentary finance committee, Mona coracoid, that year's budget in 2015 will be based on the source of oil prices, noting that "the military and political variables that gripped Iraq recently, including the face of the organization of the so-called Bdaash and the need to buy weapons Iraq has left an impact on determining the value of the financial budget ceiling for 2015.

She Ghorabi that "the inclusion of additional degrees of functional to the budget in 2015 not yet been determined, and that included the budget and functional scores is not the jurisdiction of the committee," a banner saying, "that" the Ministry of Finance did not send any notice about the new grading it did not end the final accounts for the year ".

And member of the Finance Committee pointed out that "It is scheduled to reach the financial budget for 2015 to the House of Representatives of legislation the end of this month," indicating that "the approval depends on the destinations and the extent of parliamentary blocs and the federal government approved by the" Admiral .


http://www.iraqpressagency.com/ar/archives/106961

11/19/2014 15:56

Oil at $ 78 and wait for the market in OPEC

BAGHDAD / obelisk: Oil prices fell towards $ 78 a barrel on Wednesday after rising Saudi crude exports in September, data showed, despite signs of oversupply in the market and divisions within OPEC appeared to be growing ahead of a meeting to discuss output policy next week.

And concentrated attention on the drop in oil prices by almost one third in the past few months in response to OPEC's calls for some young members of OPEC to cut production during the meeting, which will be held on November 27 November in Vienna.

So far, the most important member of the Saudi Arabia, OPEC did not show any sign that it will support the organization's production cut.

The official data showed high Arabia Sarat of crude oil in September, about 59 thousand barrels per day.

Diplomats and market sources said Saudi officials have said in private conversations recently that the kingdom could afford for some time, the current prices and possibly lower levels.

Even OPEC delegates veteran can not predict how OPEC will deal with the collapse of crude prices this year.

A senior OPEC delegate works in the long ago told Reuters: "For the first time I really do not know what can happen in the meeting. It is not clear."

Brent crude fell ten cents to $ 78.37 a barrel by 0815 GMT, and was down 84 cents at the settlement on Tuesday.

US crude fell 60 cents to $ 74.01 after closing on Tuesday, falling to $ 1.03.


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