Dec 162014
12/16/2014 BAGHDAD / Obelisk: Oil prices fell again to the lowest level since May 2009 after comments seen as discouraging officials Organization of Petroleum Exporting Countries (OPEC ). The price of a barrel of crude lost the reference light “Sweet Light Krod” January delivery to $ 1.90 in the New York market (Nymex) to reach US $ 55.91, the lowest price since the beginning of May 2009 . The analyst said Carl Larry, “There is a lot of speculation that carried the market to bottom,” he said. “Today concern is focused mainly on OPEC refused to express an intention to take any action to reduce its production . “ The OPEC Secretary-General Abdullah al-Badri defended at a conference in Dubai Sunday this strategy, saying that the gap between supply and demand does not explain the drop in prices at a time when OPEC kept it on its output ceiling unchanged at 30 million barrels per day during the last meeting in November / November . Analysts said the “Commerzbank” “hardly believe that OPEC wants to know to what extent they can go in the current situation . “ He went Emirati Oil Minister Suhail Al Mazroui further during the conference itself, according to experts said that OPEC can afford the price up to $ 40 a barrel . Said analyst Phil Flynn said, “OPEC continues to fortify their positions (..) Emirates says it is not necessary to hold an emergency meeting (..) and they do not hide their target is the American oil shale that,” in the hope that the fall in prices, “to the exclusion of some producers.” . Share this:FacebookLinkedInTwitterGoogleTumblrPinterestReddit (more…)