dmt1997325
Geregistreerd op: 02 Dec 2017 Berichten: 834
|
Geplaatst: 27-04-2018 08:56:27
Onderwerp: simply accept
|
|
|
Oil freeze deal in doubt as Saudi-Iran tensions spike
DOHA | By Rania El Gamal and Reem Shamseddine
Saudi Arabia's Oil Minister Ali al-Naimi arrives to a meeting between OPEC and non-OPEC oil producers Jermaine Kearse Jersey , in Doha, Qatar April 17, 2016.
ReutersIbraheem Al Omari
Saudi Arabia demanded on Sunday that Iran join a global deal on freezing oil output, jeopardising the chances of an agreement between OPEC and non-OPEC producers that was supposed to prop up the price of crude.
Some 18 countries, including Russia, had been due to meet on Sunday morning in the Qatari capital of Doha to rubber-stamp a deal - in the making since February - to stabilise output at January levels until October 2016.
But the meeting was postponed after OPEC's de facto leader Saudi Arabia told participants it wanted all OPEC members to take part in the freeze, according to OPEC sources.
Riyadh had earlier insisted on excluding Iran from the talks because Tehran had refused to stabilise production, seeking to regain market share after the lifting of Western sanctions against it in January.
With the deal running into trouble, oil ministers in Doha met with the Qatari emir, Sheikh Tamim bin Hamad al-Thani - who was instrumental in promoting output stability in recent months.
But a new draft seen by Reuters thereafter contained none of the binding points of the previous outline.
It said producers in and outside the Organization of the Petroleum Exporting Countries should agree to freeze oil production at "an agreeable level" as long as all OPEC countries and major exporting nations participated.
Ministers started talks after 1230 GMT and were still debating the draft more than two hours later.
The prospects of a comprehensive deal, which would be the first between OPEC and non-OPEC countries in 15 years, looked slim.
"I am not sure you can call it a freeze," one OPEC source said.
A senior oil industry source said: "The problem now is to come up with something that excludes Iran, makes the Saudis happy and doesn't upset Russia."
Failure to reach a global deal would signal the resumption of a battle for market share between key producers and likely halt a recent recovery in prices.
"If there is no deal today, it will be more than just Iran that Saudi Arabia will be targeting. If there is no freeze, that would directly affect North American production going forward, perhaps something Saudis might like to see," said Natixis oil analyst Abhishek Deshpande.
SUPPLY GLUT
Brent oil LCOc1 has risen to nearly $45 a barrel, up 60 percent from January lows, on optimism that a deal would help ease the supply glut that has seen prices sink from levels as high as $115 hit in mid-2014.
Saudi Arabia has taken a tough stance on Iran, the only major OPEC producer to have refused to participate in the freeze.
Deputy Crown Prince Mohammed bin Salman told Bloomberg that the kingdom could quickly raise production and would restrain its output only if Iran agreed to a freeze.
Iran's oil minister Bijan Zanganeh said on Saturday OPEC and non-OPEC should simply accept the reality of Iran's return to the oil market: "If Iran freezes its oil production ... it cannot benefit from the lifting of sanctions."
Although a freeze would be a significant step for oil producers, it would have only a limited impact on global supply and the market is unlikely to rebalance before 2017, the International Energy Agency said on Thursday.
(Reporting by Rania El Gamal and Reem Shamseddine; Additional reporting by Sam Wilkin, Katie Paul and Tom Finn; Writing by Dmitry Zhdannikov and Andrew Torchia; Editing by Dale Hudson)
If you are looking for a trade directory that can help your online reselling business at every step, you should consider esources. This trade directory is one of the fastest growing B2B directories in the UK that can help your business grow and help it sustain in the highly competitive business environment. In this article, we will give you an esources.co review so that you can get in-depth information about this directory, which will help you decide if it will benefit your business.
Esources.co Review
If you search for esources.co reviews on the Internet, you will find several articles and posts talking about esources scams. However, there is nothing to worry, as they are fake reviews that have been published simply to tarnish the reputation of esources in order to decrease its market share. The increasing competition and slowdown in world economy are some of the prime reasons why some companies have resorted to unfair means, like publishing fake reviews about competitors, in order to make a place for themselves in the market. Therefore, whenever you need feedback about some wholesale directory or firm, you should refer to multiple sources to ascertain their credibility.
Esources is not a scam firm. This is evident from the fact that it allows you restricted access to its database without any fee. The mere idea of allowing you free access is to allow you to check its directory services before you spend your money on them. Moreover, its fee structure is reasonable. You can avail of its various services without burning a hole in your pocket. It has two types of membership basic and premium. Basic membership is free for both suppliers and buyers and premium membership costs £25 for buyers and £12.50 for suppliers. Premium membership comes with added benefits like buyers getting unrestricted access to suppliers and deals database and suppliers getting more visibility which eventually helps them to capture greater market share.
<.
|
|