Members of OPEC asked to call special session
Material posted: Publication date: 12-01-2016
The OPEC can hold special session at the beginning of March. It was declared by the minister of oil of Nigeria and the president of conference of OPEC Emmanuel Ibe Kachikvu. According to him, with such request some participants of cartel acted.

Quoters of several member states the Organizations of Petroleum Exporting Countries (OPEC) have addressed to a management of cartel with the request for conducting of the emergency summit, the oilminister of Nigeria and the present president of conference of OPEC Emmanuel Ibe Kachikvu has informed Reuters. ​ variation of policy of the organisation in the conditions of sharp dip of the world prices for oil can become the Point of issue. «Pair the countries, I do not want to call them», - have told to Kachikvu in reply to the request to update the states which have asked about extreme sitting.

At power conference in Abu-Dhabi the minister has explained to journalists that during an extraordinary meeting at the highest levels which one can take place in March, 2016, is planned to discuss a question of possible variation of a policy of the OPEC. On last next sitting of the OPEC which one has taken place on December, 4th, the organisation has not pronounced about quota variation on oil recovery, contrary to expectations. Now the cumulative quota on OPEC cumulative recovery compounds 30 million barr./days, it did not change since 2011.

Cost of barrel from a so-called basket of the OPEC at which one calculation the prices for thirteen sorts of the oil are used, exported by the countries entering into cartel, was pulled down the day before to $27,07.

During the today's auctions at stock exchange ICE cost of futures for oil of mark Brent with delivery in March, 2016 was pulled down below $31. On a minimum barrel cost was pulled down to $30,77 that on 2,62 % below level of closure of the yesterday's auctions.

«A stress major factor on the prices remain boosted a failure of stock market of fear concerning the further deceleration of rates of increase of economy of China, and also invading of the Iranian oil on the world markets. In the morning on Tuesday reduction of prices was continued, and level of $31 for barrel has appeared passed downwards. After so dramatic drop even possibilities of the prices on achievement of $20 for barrel seem now not so fantastic», - the chief of analytical department IK «Tserih Kepital Management» Nikolay Podlevsky has noted.

Sharp dip of oil quotations has led to new drop of a rouble exchange rate. During the today's auctions at the Moscow stock exchange dollar cost for the first time since December, 2014 has risen above 77 rbl.

In the report of the OPEC published in the end of December, 2015 under name World Oil Outlook (WOO) it is forecast that cost of barrel of oil from an OPEC basket will grow in a midrange outlook approximately on $5 a year so by 2020 its rated price will grow to $80.

Evgenie Kaljukov

Source: <>

Tags: assessment , oil