Will the price of oil finally back? At least they will stop their descent into hell? This is the aim of the Doha meeting scheduled this Sunday, April 17. Oil producing country, member or not of OPEC meet in Qatar to agree on a production freeze in January allowing term to rebalance the market and return to sustainable price.
To summarize the problem. Supply exceeds demand, suddenly the prices fall. living country from oil revenues can no longer make ends meet. United States (conspicuously absent from the meeting), production more resilient than expected, but the number of wellbore collapse and defects are increasing, which pissed off the profits of Wall Street banks forced to raise their provisions.
If trading giants believe that the worst is over, analysts remain cautious, particularly because of Iran’s return to the oil market after the lifting of sanctions international. This country has also reported that the Iranian minister will not travel to Doha alongside Saudi Arabia and Russia. “ Iran has already announced that he can not join the plan to stabilize oil prices as he has not regained its level of production and export before sanctions “Friday said Nematollahi Akbar, spokesman of the ministry.
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