Saturday, October 25, 2008

24 meeting of OPEC production cuts to deal with the fall in oil prices

Organization of Petroleum Exporting Countries (OPEC, "OPEC") hope that Russia's accession to the idea of once again come to nothing. Russian energy minister chashma quarter of Section 21 in the evening the Armenian capital Yerevan that Russia will adhere to a constructive dialogue with OPEC, but it will maintain an independent policy.He called on Russia and other OPEC oil production cuts to go abroad to join the ranks of the post-position.
With the spread of financial crises, New York crude oil futures price has fallen to below 70 U.S. dollars a barrel. OPEC had to be scheduled for November 18 ahead of a meeting to be held on the 24th, will discuss the prevention of a further decline in crude oil prices solutions.The parties prior to the meeting that he wished to control the price of crude oil through the production, is expected to cut the number will be the focus of controversy.
OPEC's recent market report suggested that in the light of the level of production in September to start production 1,000,000 barrels per day of crude oil, and month by month increase in the number of one-day cut, next year to be able to achieve broad market supply balance.
But in the current economic context, in the long run to cut production to maintain oil prices at a high level, but the deterioration of the current world economic situation, and then continue down the market demand for crude oil.
Deutsche Bank analyst Louis believe that the 24 OPEC meeting likely to reach an agreement with the current daily production of 28,800,000 barrels of crude oil production quota based on step by step.
In another development, Russia, Iran, Qatar, the three major natural gas exporter of high-level government and business 21 in Tehran announced that the three countries have set up a "gas OPEC" reached consensus in principle.
Qatar energy minister AI Attiyah 21 in Tehran that the world's gas exporting countries forum in November will be held in Moscow in the second half of members of the ministerial meeting, confirmed that the meeting may set up a "gas OPEC." At present, natural gas-producing countries exporting natural gas through an informal forum for the organization and coordination of action between them.In addition to the members of the Organization of Russia, Iran, Qatar, there are Algeria, Indonesia, Malaysia, Nigeria, the United Arab Emirates, Venezuela and other major gas producing country.
Among them, Russia is the largest natural gas reserves.
石油输出国组织(OPEC,简称“欧佩克”)希望俄罗斯加入的想法再次落空。俄罗斯能源部长什马季科21日晚间在亚美尼亚首都埃里温表示,俄罗斯将坚持与欧佩克进行建设性对话,但会保持政策独立。他是在欧佩克呼吁俄罗斯等石油产出国加入减产行列后表态的。  
随着金融危机蔓延,纽约原油期货交易价格已跌至每桶70美元以下。欧佩克不得不将原定于11月18日举行的会议提前至24日召开,将商讨防止原油价格进一步下跌的对策。各方在会议召开前表示,有意通过减产控制原油价格,预计减产多少将成为争论焦点。  
欧佩克近期市场报告提议,参照9月生产水平开始每天减产100万桶原油,并逐月增加单日减产数量,到明年能够实现市场大致供给平衡。  
但在当前经济背景下,削减产量长远而言能够维持油价处于较高水平,但可能恶化当前世界经济形势,进而继续拉低市场原油需求。  
德意志银行分析师路易斯认为,24日欧佩克会议可能达成协议,以当前每天生产2880万桶原油的限额为基础逐步减产。  
另悉,俄罗斯、伊朗、卡塔尔三大天然气出口国的政府及企业高层21日在德黑兰宣布,三国已就成立“天然气欧佩克”事宜达成原则一致。  
卡塔尔能源工业部长阿尔阿蒂亚21日在德黑兰透露,世界天然气出口国论坛11月下半月将在莫斯科举行成员国部长级会晤,会上可能确认成立“天然气欧佩克”。目前,天然气生产国通过天然气出口国论坛这一非正式组织协调相互间行动。该组织成员除俄罗斯、伊朗、卡塔尔外,还有阿尔及利亚、印度尼西亚、马来西亚、尼日利亚、阿联酋、委内瑞拉等主要产气国。其中,俄罗斯是天然气储量第一大国。

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