The head of Venezuela’s Nicolas Maduro and Iranian President Hassan Rouhani met in Tehran. As reported in a brief statement on the website of the Ministry of Information Latin American country, the two leaders discussed the prospects of possible cooperation. The main purpose – to support oil prices at a high level this year.
Over the past six months, “black gold” has fallen in price more than doubled – from $ 115 per barrel in the summer of up to $ 50 now. And, according to many analysts, the coming months will continue to cheaper oil. At the same time the world’s main exporter – Saudi Arabia – is interested in this. Representatives of the Arab kingdom has repeatedly stated that to reduce oil production quotas are not collected. Saudis are out to shale (in the US) and offshore (in Russian) raw materials extraction projects have been suspended.
This policy has already began to bring the first results. For example, in America went bankrupt first slate company – Texas WBH Energy. And some Russian oil companies have already set aside for a while some of the projects in remote regions.
However, most experts believe that too low oil prices will not stay long. Thus, the rating agency Fitch forecasts that the average price of “black gold” in 2015 will be $ 70 per barrel. But Iranian Oil Minister Bijan Namdar Zanganeh said that the oil price will fluctuate in the range of $ 60 – 90 per barrel in the coming months. Although this level higher than the current value, so the price of oil can lead to bankruptcy of many shale companies.
Therefore, in order not to depend on the game, started by Saudi Arabia and other oil exporters and create their own alliances. Reduce production unilaterally to raise the price of oil, none of unprofitable producers. The market may affect only joint action. However, OPEC has not yet seek to apply this mechanism.
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