Mubasher: KAMCO sees five reasons for its & # 39; the decline in oil prices until the end of last week, compared to the highest levels in early October, 2018.
KAMCO in a report on the performance of world-wide oil markets in November 2018 shows that the sharp decline in oil prices is due to allow membership and non-member countries of OPEC to expand the agreement to reduce the yield in 2019.
Oil prices fell into one of the longest decline, with a 20 per cent loss to the end of last week, compared to the highest levels in early October, 2018.
KAMCO brought this decline to concerns of the demand of a student in the short term behind the prospects of growing economic growth in the world in the short term, as well as worries about doing so. Increased oil, stock results, emerging market funds, and extended citizenship from recent advertising regulations in Iran.
The new movement is changing the vision for oil prices, and Saudi Arabia and other members of the Petroleum Change Agency group can try to extend the current production production agreement to 2019.
Saudi Arabia has suggested that the immediate need for oil cutting agents to be made by 1 million barrels per day compared to October 2018 levels, which will add to its 0.5% barrel exports Each day in December 2018, they came in response to the seasonal decline in the demand.
According to the oil price report since the beginning of the year, Bloomberg has been in a state of riot over oil prices since the second week of October 2018 because Brent's raw price fell by 7 per cent in one day Last week, the largest daily decline in three years.
Price of OPEC raw price $ 67.0 barrel, a & # 39; falling below $ 70 barrels for the first time since mid August 2018, with the lowest closing price in the last seven months. However, the average average prices in October 2018 show a positive move due to the speed of scheduled benefits at the beginning of the month.
OPEC oil oil equals $ 79.39 per barrel in October 2018, up 2.9 per cent, the highest from October 2014. Average Brent boiler dropped slightly by 2.7 per cent to $ 81.3 per barrel , and raw oil In 7.0 per cent to 78.6 gallons SA barrels, monthly oil price for OPEC basket and growth rate.
The latest data showed an increase in oil production in general, with US collision rates affecting 11.6 million barrels per day and its; making Russia about 11.4 million pd.
The Petroleum Change Nations Group (OPEC) expanded with 430,000 pd in October 2018, the highest in 23 months of 33.33 million bpd, such as lower supplies from Iran.
In early November 2008, the main oil exporters in Iran, which account for almost 75 percent of its oil sales, 180-day sales , a & # 39; indicates an increase in exports, which has been reduced since sanctions were announced.
As the top three world-class oil representatives are represented at registry levels, Iran and Venezuela are experiencing do more than declining.
Given the increase in production, it was expecting an International Energy Group (IEA) provision to exceed the application in 2019.