• Gulf agreement on oil production policy


    Gulf agreement on oil production policy

    Oil Minister Ali al-Nuaimi said in Vienna that Gulf oil producers agree to crude production policy. Nuaimi told reporters that the GCC 'reached consensus', adding: 'we believe that OPEC will adopt a common position.' He suggested the oil Minister Ali naimi, that will defend maintaining OPEC's production ceiling unchanged. He told journalists according to the Dow Jones agency niozwairz: «that the market will stabilize eventually. '' The three delegates to the Organization of the petroleum exporting countries OPEC '' to Reuters, that the organization is unlikely to reduce output at its meeting scheduled for today because of some members of the Organization and from outside. A Gulf delegate referred to the (OPEC) told Reuters that Gulf producers reached an agreement not to cut crude production at a meeting today. He is scheduled to meet Ministers of Member States of the Organization of petroleum exporting countries OPEC», «today in Vienna.
    Part of Iranian Oil Minister bizhan zinghana, upon his arrival in Vienna, today, after a meeting with oil Minister Ali al-naimi, when asked if there were signs of agreement between members before the meeting of the Organization of petroleum exporting countries OPEC today, saying that there is a consensus within OPEC to monitor the market carefully and timely intervention».  Said Emirati oil Minister Suhail Bin Mohamed Al mazrouei told Reuters: 'not to panic from this quorum is not the first time, and not disturbed, the crisis we have seen lower levels of price by». Mazrui said in an interview: «will be or become disciplined market on its own in the end», adding that falling prices will not last long, I believe that OPEC alone should not assume the task of fixing this problem, OPEC is not responsible for the supply glut that resulted from the boom of non-conventional oil production, and I think everyone should play a role in promoting a balanced market OPEC alone. '' The UAE Minister said that OPEC does not target specific levels of price whatever the decision today.
    He said Kuwaiti oil Minister Ali Saleh Al-omair, that his country is a member of the Organization of petroleum exporting countries (OPEC) accept any price for oil on the market, whether 60 or 80 or 100 dollars per barrel.. He said Al-omair told reporters before the OPEC meeting, which will discuss ways to deal with oil prices «we adapt any rate was». It comes with the price of Brent descended towards 77 dollars per barrel on Tuesday, while Brent price fell in futures 38 cents to 77, 95 dollars a barrel, after reaching 77, $ 30, while US crude fell 24 cents to 73, 85 dollars a barrel.

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