"Goldman Sachs": The oil market is out of stock. Demand for increased production to avoid the crisis

Goldman Sachs pointed out that the crude oil market is still in deficit, which requires successive increases in the production of OPEC and Russia to avoid a crisis in the stocks of Crude oil by the end of the year OPEC and Russia production increases by 1.3 million barrels per day end 2018.
The report adds that increases in the next year 2019 can not be determined with precision, pointing out that the heavy losses of production and export in Venezuela, Libya, Canada and Iran International sanctions.
For its part, predicts the report, "International Oil Price", to emerge Russia is close to OPEC as an associate member, pointing out that there is a major element in the world's economy. Bilateral cooperation agreement between Riyadh and Moscow: Joint interventions to increase or decrease oil production now constitute the new base of producers' action. The formation of the first club of major buyers of crude oil in the world, stressing that it is a very strong alliance of consumers and may be a concern of some other players in the world. Oil industry worldwide.
He explained that the two countries accounted for 17% of world crude oil consumption. Affected if the cost increases He pointed out that the buyers' club is the first bloc facing the OPEC producer bloc.
The report predicts that neither of the two entities would limit the influence of each other on the global oil market but would cooperate to promote and devote joint coordination efforts.
It is likely that Europe and Japan, previously reluctant to participate in consumer projects or gatherings, will now be able to participate in the buyers' club, citing the difficulty of economic cycles in the oil and gas markets. multiplicity of alternatives Energy The alliance of crude oil buyers is likely to long-term be a significant force in the market, noting that crude oil producers need to start paying more attention now to develop cooperation with this new large entity.
Due to sanctions on Iran's oil exports, crude oil is rising due to several price-enhancing factors, including Canadian production and data on oil and oil stocks.
Prices rise by 1 million barrels per day Accepted However, the market seems to be hungry for more oil.
The OPEC countries, led by Saudi Arabia and its partners, OPEC led by Russia attaches great importance to the cohesion of the agreement and to the continuity of joint work by producers, which reduces production surpluses, estimated at one million barrels a day, while others do not exceed 700,000 barrels.
That Saudi Arabia as the group's leading producer to awaken the public interest of producers and the international economy The magnitude of the challenges facing the economies of many countries producers because of sanctions or the economic crisis, and thus their ability to increase production, has led to limited adjustments of production quotas to strengthen the oil supply without widening the gap between producers. The middle.
Andre Grosse, director of the Central Asian sector of the German energy company AMM Energy, said the market fears that oil reserves will decline as a result of plans to revive production in Saudi Arabia and Russia. To attract consumers, led by the United States and India.
New investment and exploration continue to grow slowly and insufficiently to boost backup energy, pointing out that producers and consumers agree on the need to calm prices.
From us Economic Analyst David Ledesma, an analyst at South Korea Energy Consultancy, noted that production disruptions in Libya, Canada, and Iran added new constraints to the market, faced with successive collapses in Venezuelan production. At this point and in response to the needs of Asian buyers and at the invitation of the US administration
The road is now paved for the big producers to gain in profits and market share, but everyone is convinced that individual logic must be abandoned. Imda On the other hand, oil prices rose yesterday after a report stating a drop in fuel stocks in the United States with the suspension of Cinecrode Canada's oil sands plant in Alberta, usually delivered to the United States.
Oil prices support the imminent US sanctions on Iran, which threatens to cut off the supply of an already scarce market despite the commitment of the Organization of the Countries Oil exporters (OPEC) to increase production to offset supply shortages due to supply disruption. , WTI rose The US dollar futures contract rose 37 cents, or 0.4%, from the previous settlement, to $ 74.51 per barrel. The crude reached its highest level since November 2014 at 75.27 dollars per barrel.
The barrel of Brent reached 78.04 dollars per barrel, up 28 cents, or 0.4% from the previous settlement. The US Petroleum Institute announced yesterday that US crude oil inventories fell by 4.5 million barrels to 416.9 million barrels during the week ending June 29, adding that US inventories fell by 4 percent. , 5 million barrels at 416.9 million barrels. Gasoline and distillates, which include diesel and fuel oil, also declined
Fuel inventories are mainly attributable to the closure of the Cinecrode Canada oil mill of 360,000 bpd near Fort McMurray, Alberta,
The goal of the market was on Aqou The US government threatens Iran, a major oil exporter The US government has called on all countries to stop buying from Iranian oil from November 1945.
To offset Iran's potential deficit and disruption of supply on the other hand, said the daily report of the Organization of the oil exporting countries yesterday that the price of the basket, which includes averages of 14 tons of production by the Member States in the organization has achieved its second consecutive decline and this basket has won n And two dollars compared the same day last week recorded a US $ 72.69 per barrel.