12/01/2015
Amid the hopes for development of mechanisms for the recovery of the market
Movements between «OPEC» members to contain the crisis of falling prices
The oil marketandlarge movementsandintensive witnesscontactsbetweenmembers of the Organizationof Petroleum ExportingCountries "OPEC"countriesto contain thecrisis offalling pricesnotablybetweenVenezuelaand Saudi Arabia, Iran, Iraq, reflecting theconvictionOECD countriesthe need forconsultation and coordinationin the next phase, especially inlight ofthe expectations ofcontinuouslydecliningcrude pricesin the coming monthsto below$ 40 a barrel.
WiththeVenezuelan PresidentNicolas Madurocurrentlyvisit toSaudi Arabia, whichis the largestoil exporter,wasMadurohad demanded,duringhis visits toTehran's cooperationExporting Countriesto stabilizeoil prices, whichis a strategicproduct.
AndstrengthenedIranand Venezuela's politicalandeconomic tiessince the firstdecadeof thecurrentmillennium,andsuffertwomembersof OPEC,the deterioration ofoil prices, which felltobelow $50per barrelthreshold.
He saidthe "economic"ChristianHnburcompetentAustrianspecialist inthe field of energythatVenezuelan PresidentNicolas MadurotourinOPEC memberstatesis part ofthe movementis seriousand tryto raiseoil prices, which have fallentonew lowslast week, fallingbelow $50a barrelequivalent toalmosthalf of what itwasin theprice of a barrelof June2014.
Honburpointedtothe exchange ofaccusations between theproducersstage,whichdominatedthe character ofthe last period, particularly amongMember States of the"OPEC"orwithproducersoutside the"OPEC"must be abandonedand replaced withcooperationprogramsquick and efficient,he said, addingthat the crisisoccurredwithoutdoubtmore oncountries like IranVenezuelaand others, but thatdoes not precludecooperationbetweenthe rest of themembers of the organizationwith thembecause the internationaleconomy isintegratedand cannotlooktothe international economyisolatedon the contrary,there is alwaysa need forintegration and cooperation.
He saidthat the newAustriancompetentcommunication canactuallyresult intherecovery ofmarket mechanisms,especiallyif we realizethat the decline incrudeprices, such asa heavy blowto the budget ofboth Iran andVenezuela, whichrelyheavilyon oil exportsand otherproducing countries.
He addedthat it is betternot onlycooperation between the"OPEC"countriesonthe subject of oil, but mustbe extended tothe overall economiccooperation and assistanceoneconomic diversificationandexpansion of theoil industryandtradederivatives andthe development ofthe petrochemical industryas well asincreasing trade exchangeand joint investmentslevel.
He stressedonthe importance of supportingthe efforts of partnersOrganizationof Petroleum Exporting Countries(OPEC)and otherssuch asRussia'scontrol overoil pricesin order topaysomelevel of"acceptable" because thefairpricethat will satisfyboth producers and consumersalikeis the only waytostabilize the marketand the growth ofthe economy, and theidea thatbreaks downthis balancein favor ofone party over anotherparty account, itleads toeconomic crisesrepercussionsextend toallcountries of the world.
For his part,businessman Ahmedypointedto "economic",weurgently needtospeedthe return of stabilityto the region,pointing out that theacts of vandalismthatgoes onoil installationshave becomea source of concernandinconvenienceongoingeconomiccircles,particularly inLibya, whichhas faceda wildfirein the port ofSidraandsufferongoingunrest inthe level of production.
He added that thecontinuingacts of sabotagealsoimportantinacountrywhereexposedYemen's mainoilpipelineconnectingtheproductionfields in theMaribrefineryin Hodeidahprovince in thewest of the countrycontinuingattackshave causedthe decline ofthe domestic market shareof fuel.
Headded that thecontinued declineofoilproductionYemenhas had a negativeimpact on thegovernment's shareofexports andforced the government toimportoil productsinNovember(November)worth$ 223million to coverdomestic consumptionof fueldeficitin the country.
He stressed theimportance of eliminatingspeculation andblack markettradein crude oil,whichis doingDaashterroristorganization,pointing out that thestability of theoil market isdifficult to achieveinlight of the continuingproductionespecially in largecountriesandconflicts and politicalunrest.
TheyenBeachanalystVietnamesefor "economic", said if thereare strong indications thatbilateral cooperationbetween theproducing countriesto address the currentsituationprogramswherevisitingAdel Abdul Mahdi,Iraq's oil ministerTehranto discuss the issueof jointfieldswith the Iranian sideandwill includetalksalsoIraniangas exportsto Iraq andtradeoil derivativeswhich means that thetopoil producersbegana strongmoveto abandon itsreliance oncrude exportsfor the benefit ofpetroleum productsandalternative energy sources.
Theanalystpointedout that theVietnameseBeginZanganaIranian Oil Ministerannouncednear thesigning of a contractfor the supply of25 millioncubic metersper day of gasto Iraqas well asplansfor the export ofIranian gastoPakistan.
She addedthat the decline inoil pricesstemmingfromoversupply, which led tolower prices, whichnegatively affectedin mosteconomies,oil-producing,and the impact ofthe affirmativein theoil-importingcountries,and thatthis factorwill have a significantpositive impact onpublic budgetsfor consumingsignificantlyduring the coming period.
