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An oil production freezing deal will be discussed on April 17th in Doha, Qatar.
Oil producing countries intend to freeze production without Iran’s support, who refuses to freeze or cut its output after years of sanctions.
The current global production is achieving record highs, prompting analysts to argue that an output freeze deal might not have a real impact in the oil market. International Energy Agency data’s (chart 1 & chart 2) points to an average production excess in 2015’s 4th quarter of 2 million barrels per day.
Eva Sjekelova [1] reporting Neil Atkinson, a senior executive at the International Energy Agency:
A freeze on production is perhaps rather meaningless. It's more some kind of gesture which perhaps is aimed
... to build confidence that there will be stability in oil prices.

Oil prices have been rebounding lately from January’s lows, relying almost on production freezing intentions. A dovish Fed, a weaker dollar and tiny recovery signals from China have boosted the process. Myra P. Saefong and Jenny W. Hsu [2] on China's oil consumption:
In February, China’s crude imports rose nearly 25% on-year to 31.8 million metric tons, equivalent to roughly 8
million barrels a day
[/2][/1]…
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fx_lmcap avatar
fx_lmcap 18 Apr.

Thankful.

Mariia avatar
Mariia 21 Apr.

Interesting information

wisdom_consultant avatar

well written!

rajib217 avatar
rajib217 23 Apr.

Nice explanation

fxsurprise8 avatar

oil looks a bit high here

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The recent fall in oil prices is causing a downturn in stock markets all over the world.
Oil companies facing negative balance sheets are being pushed into labour force cuts and to delay future investments.
Times are also though for US shale oil producers. They have once deposited hopes that Saudi Arabia could bring some balance to the market. After the latest “freezing” negotiation developments, their last hopes might have completely vanished. Reporting Ellen R. Wald, [1] Modern Trader Magazine columnist:
Saudi Arabia can produce a barrel of oil at a cost of about $2. Even the best shale producers cannot produce a
barrel of oil for less than $50 a barrel. (...)

OPEC is not coming to bail out the shale oil producers. (...)

Saudi Arabia does not feel their pain (...) [it] may even welcome these minor inconveniences (...) [moving national]
economy towards some diversification.

Times are tough for shale producers and bankruptcies and asset sales are increasing. (...) Any relief producers
thought would come (...)
has not materialized.

OPEC member Saudi Arabia and non-OPEC Russia reached a principle of agreement on February 16th to freeze oil production at January's levels. Joining the Saudi[/moving][/it][/1]…
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wisdom_consultant avatar

very nice article! thank u!

EliasOmar avatar
EliasOmar 22 Mar.

well done bro ..

art_Alena avatar
art_Alena 24 Mar.

very good article!

angelina_may avatar

i like your pictures))

Olkiss70 avatar
Olkiss70 31 Mar.

good article!

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