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| Economy |
| Oil Expert Expects The Barrel Price To Fall Below $20 |
| 2016-01-15 |
| [NRTTV] Economic consultant in the field of energy, Majid al-Nashi, expected that the price of oil will fall below $20 US dollars a barrel. Nashi, a former expert at the United Nations ...a formerly good idea gone bad... , said in a statement today that "the price of Brent crude will go to into the twenties," signaling a significant drop. Nashi added, "The global institutions and banks, which are interested in energy and the prices of oil and metals affairs changed their expectations today [Jan. 13] through market research that expected the price of a barrel of Brent to $10, while Morgan Stanley Bank expected [Jan. 13] that the price of a barrel of Brent to $15." He cautioned that "if these expectations come true, the oil price will be between $10 to $15, then all oil-producing countries will stop producing and selling, because the sale would be a great loss." Oil prices fell on Wednesday (Jan. 13) to $25.76 US dollars per barrel, compared with $27.70 in the previous day, according to the Secretariat of Organization of the Petroleum Exporting Countries (OPEC). According to a Rooters report, Brent crude has fallen 15 percent since the beginning of 2016 and numerous international banks have lowered their price forecasts in recent days. The fall is attributed to the depreciation of the Chinese yuan and new crude coming from Iran. |
| Posted by:Fred |
| #2 He cautioned that "if these expectations come true, the oil price will be between $10 to $15, then all oil-producing countries will stop producing and selling, because the sale would be a great loss." A knowledge of economics obviously not a requirement for a Economic consultant in the arab world. |
| Posted by: phil_b 2016-01-15 19:47 |
| #1 |
| Posted by: g(r)omgoru 2016-01-15 12:33 |