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Date: 5 months ago   Category: Politics

The OPEC has refused to increase production level as that was demanded by the USA


The export countries will observe the June decision of the organization and will reduce production by 1,8 million barrels. A single question — oil production of Iran in the conditions of sanctions of the USA. The possible shortage in the market will be filled by Russia and Saudi Arabia, experts of the Photo note: depositphotos.com Ministerial monitoring committee of OPEC has refused to increase oil production level. Contrary to numerous requirements of the U.S. President Donald Trump about increase in volumes and reduction of prices, the committee of the organizations of the export countries recommended to observe the June decision and to come for absolute execution of the transaction, that is for reduction of production on 1,8 million barrels. As the Russian Minister of Energy Alexander Novak has said, will come to the target level of the participant of the agreement in the next months — in September-October. Moreover, in OPEC have said that in December can consider extension of restrictions on production for 2019 as don't exclude an offer surplus because of growth of slate production in the USA. Results of a meeting the member of the committee on the energy strategy and development of energy industry of Chamber of Commerce and Industry of Russia, Rustam Tankayev:rustam Tankayev the CEO of the Infotek-terminal company, the leading expert of the Union of oil and gas producers of Russia "From what comments on it, interestingly, OPEC to increase production volumes when everything, it seems, goes reasonably. Prices of oil keep in the range which members of the agreement consider optimum — from 70 to 80 dollars for barrel. Here our interests absolutely coincide with the agreement of OPEC. Russia has a dissenting opinion, very many members of OPEC would support this opinion — quotas should be fixed not on production, and for export. Consumption in the OPEC countries very strongly changes depending on an economic situation and from what are imposed sanctions there. These are interests and such countries as Iran. Well and the last subject is mister Trump. Statement absolutely ridiculous. If to speak from the main, strategic point of view, the main task of the USA is the energy security. From this point of view, the price have to be such what they are now. Because in this case in the USA extraction of slate oil revives, grows, and it results in power independence of the USA. Trump doesn't consider it in the statements, he in general little considers". A single question as Tankayev has noted — oil production of Iran in the conditions of sanctions of the USA. They begin to work since November 4. Now oil export of Iran — 1,9 million barrels a day. And it, according to the expert, won't reduce to zero in any way as it is declared by the States. The volume of export can decrease to 1,3 barrels, first, because the sanctions policy is ignored by China. It is possible that other countries will join him. Besides, there is a bilateral agreement of Russia and Iran about supply of the Russian oil to Northern Iran and about deliveries to the world market of the Iranian oil under the Russian flag. This agreement provides delivery of 0,5 million barrels of the Iranian oil in days. Anyway, possible deficiency in the market because of the decreasing share of Iran will be восполн

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