OPEC meets tomorrow and keep Iraq is excluded from the quota system productivity
Conscious / n. الحصول على لص - عملهخ
16/3/2010
Meet Ministers of the Organization of Petroleum Exporting Countries (OPEC) in Vienna tomorrow, and seems to keep oil output unchanged is the only option preferred by the members of the Organization.
And the prices of oil at the current state of recovery and reached a price of a barrel of oil on the U.S. to more than $ 81 a barrel, a level higher than the desired price of OPEC, which ranges between 70 and 80 dollars a barrel.
Sources in the organization (OPEC) that Iraq is excluded from production quotas since 2003 due to special circumstances, but observers attributed to confirm Iraq's commitment to the issue of production quotas for fear of deterioration of the prices will reflect negatively on its development programs.
On a date to Iraq to join the production quota system reported that Iraq's production is not on the agenda of the meeting of OPEC oil ministers tomorrow.
She said Iraq and because of tension and instability that has lived for many years been excluded from the obligation to production quotas (OPEC), considering that oil exports remain modest despite the large needs to rebuild what was destroyed by wars and international sanctions that began three decades.
During the past few days through a number of OPEC oil ministers about not wanting to change the current production ceiling, including the Algerian Energy Minister Chakib Khelil, who said that the amendment of current production levels would send the wrong message to the oil market also said Saudi Oil Minister Ali al-Naimi said oil ministers of the FAO satisfied with the situation in the oil market and crude oil prices supported by supply and demand factors.
Sources in the organization he did not know whether it will decide after the oil ministers of the 12 members of the (OPEC) to maintain the cartel's production ceiling or make changes to production levels where it will be subject to a report of the market monitoring committee which will meet this evening at the headquarters of the Organization in order to submit recommendations to the Ministerial Conference tomorrow.
On the evaluation of the market fundamentals of supply and demand, sources said that the global market receive adequate supplies of oil and do not suffer from a lack of production at this time.
The sources expressed concern about the persistence of certain member states to exceed the production quotas assigned to them and referring to data showing the commitment of member states has fallen to below 60 percent after that was more than 85 percent early last year.
They revealed that adherence to production quotas will be a major topic is expected to cast a shadow over the meeting of oil ministers of the Organization.
Indicates a diminishing commitment to planned reductions to less than 60 percent that the (OPEC) pumps 880 thousand barrels per day above the level of supply.
Did not have the (OPEC) to adjust production quotas imposed by the reduced supply since late 2008 to stem the collapse in prices due to global economic crisis.
On the main topics on the agenda of the conference to be held for the first time in the headquarters of the Organization of the new sources is expected that the ministers consider the first instance to assess the latest developments in the global oil market and supply and demand, and levels of global stocks and the need for any new measures may be required by the market conditions for phase future.
She said it would also consider the extent to which the effectiveness of the refineries around the world, expressing the conviction that the oil ministers of the (OPEC) will make the appropriate decision in this regard.
She also expressed satisfaction with the levels of stocks of crude oil between 70 and 80 dollars a barrel, but made clear that in view of the fundamentals of supply and demand, stocks have risen to 59 days after it was between 51 and 55 days.
News Agency Iraqi
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