Good news for drivers. On the world oil markets cheaper again. Quotations raw Brent fell on Monday below $ 50 a barrel. Yet two weeks ago on the London Stock Exchange they paid $ 58.
price reduction is due to the authorities in Teheran to increase oil production by 500,000 barrels a day within a week after the lifting of sanctions and about a million barrels a day within a month.
Iran is the holder fourths largest oil deposits in the world and this is the 72 percent. the value of Iranian exports. In 2014 years of Iranian oil production is less than 3 million barrels per day, and exports fluctuated between one million and 1.2 million.
Introduced in 2012, economic sanctions meant that revenues fell by nearly half. According to the calculations of experts from the IEA, Iran lost annually about 40 billion dollars as a result of the oil embargo.
– The world needs about 93 million barrels of oil a day. Already produces its many as 95 million a day. Free from Iran sanctions will flood the world another million. There is too much crude on the market, prices have to fall – explained in an interview with Money.pl Gregory Maziak, fuel market expert email petrol.
– The first time (the actual lifting of sanctions and return Iran to the global oil market – ed. Ed.) I would expect up to 10-percent. decline in oil prices, which certainly will affect the stations. In the longer term, however, these declines will decelerate and stop at the same level 60 – $ 65. per barrel – he predicted.
The International Energy Agency IEA estimated total production capacity of Iran’s 3.6 million barrels per day, while in February 2015 years Tehran has produced 2.85 million barrels per day. That means about 760 thousand. additional barrels per day. As estimated by the Institute of International Finance, the agreement means that Iran’s GDP this year will grow by 5 percent.
Source: Oil & amp; Gas Journal, January 2015
Analysts Brokerage Office Reflex pointed out in his recent comment that we should not expect large reductions in fuel prices at the pump. This is due to the strengthening of quotations of the dollar against the Polish zloty in anticipation of a September rate hike in the US.
Last week, 95 petrol became cheaper slightly by 3-4 pennies per liter. On average, it costs 4,99 zł. Analysts expect, however, that this week should bring further declines in prices for gasoline and diesel, after the reported another drop in wholesale prices.
Both petrol and diesel Reflex Brokerage Office predicts a decline in average price from 4 to 7 cents per liter, while at stations corrections can be as high as ten cents.
Last month, after lengthy negotiations, Iran, in return for the lifting of economic sanctions, agreed to limit its nuclear program. The West feared that the government in Tehran is seeking to produce an atomic bomb. In June last year, oil cost $ 120.
No comments:
Post a Comment