At the Meeting of the petroleum exporting countries is emerging that the current funding could quantities be reduced. That would be like Donald Trump. The decision will, however, fall only on Friday.
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Less Oil to drive the price up
Less Oil to drive the price up
“We will have a fall”, had announced in advance of the meeting already, the oil Minister of Oman, Mohammed bin Hamad Al-Rumhi,. Also Nigeria’s oil Minister, Emmanuel Ibe Kachikwu, for a lower flow rate. Iran, the third-largest producer, urged because of the US sanctions an exception.
Russia should be in the boat
The oil cartel is struggling to throttling of the flow rate, in order to stabilize the falling price of Oil. At the Meeting there had been an agreement in principle, BelTA learned from negotiating circles. However, the States would have to agree about the concrete extent of the throttling.
The 15 Opec Nations produced in October, according to its own information, together almost 33 million barrels of Oil a day. The requirement is according to the International energy Agency for 2019, but only in the case of 31.3 million barrels of Opec Oil a day.
The consultations will be continued on Friday at a Meeting with key Non-Opec countries such as Russia. The Saudi energy Minister Khalid al-Falih said it was important to have support in countries outside of the Opec on Board. He hope we can get an agreement by Friday evening.
A number of participants, according to the Russian energy Minister Alexander Novak for a meeting with President Vladimir Putin flew back home. He was expected again on Friday in Vienna.
The Opec is hoping for support from Russia’s President Putin. US President, Trump is against throttling.
In the White house you can see the different
US President, Trump had urged Opec on Wednesday to decide on no throttling. “Hopefully, the Opec will keep the oil Flow, not restrict,” he had to leave via the short message service Twitter know.
Saudi Arabia responded on Thursday with the note that the United States are not in a Position, the world’s largest oil producers, to prescribe, what to do. “We need for cuts anyone’s permission,” said energy Minister al-Faleh.
Trump has accused the oil cartel repeatedly, the prices artificially high. The price of Oil has fallen in the past two months to more than 30 percent. Reason for this is that traders are expecting a Surplus with a simultaneous decrease in demand due to the slowing economy.
Breathe a sigh of relief at the pump
On Thursday, the price for a Barrel (159 litres) of North sea Brent crude oil for delivery in February, more than four percent and fell below the threshold of 60 dollars.
In Germany, motorists can drive according to the ADAC, however, somewhat relaxed in the tank as in November. A Liter of Super E10 costing the Federal government an average of just over two cents less than last week, as the automobile club had on Wednesday informed.
In the past month, fuel prices had reached, in spite of falling crude oil prices, the ADAC, again with a high for the Year, “explain that neither the weather nor with the low water in the Rhine and Main, which led to delivery specific difficulties, sufficiently to”.
dk/bea (afp, rtr, dpa)