Mountainman: Remember, IRAN said they Would have their OIL at Pre-Sanctioned Levels by SEPTEMBER 2016…….This Article is Setting the STAGE for the Positioning of BLACK GOLD as Doc Calls it…….and THE SDR Universal CURRENCY=OIL is Going to SLIP n SLIDE Into It’s NEW GLOBAL REALITY……(see article below)
Thus the Reason for (WHY) We are Seeing the RISE in Production……It will Settle GLOBAL COUNTRY to COUNTRY SDR ACCOUNTS=ONLY for A COUNTRY…….CRAZY 8’s and AUGUST 2016 Will Be A SLIP n SLIDE INDEED……..IMO
Blessings,Mountainman (8)=New Beginnings………for MANY MOVES for AUGUST thru SEPTEMBER……..JUST IN TIME for OCTOBER,1 2016……fireworks
And it caused OPEC to increase production in the more downward pressure on crude prices. Oil fell from the highest level in 2016, which approached $ 53 a barrel in June to $ 42 a barrel on Friday under pressure from concerns about weak demand.
OPEC production may rise further if talks on reopening of Libyan oil installations succeeded after the country’s production remained at very low levels compared to what it was before the war.
Said Carsten Fritsch, analyst at Commerzbank, “this could lead to pump more oil soon in a market with an oversupply of crude already,” despite the fact that previous hopes for the resumption of production has not been realized.
OPEC production has jumped because of the return of a former member of Indonesia in 2015 and the accession of Gabon also this month, and that the production of the rest of the members in July amounted to 32.46 million bpd, the highest ever in the Reuters survey, which began in 1997.
The supplies also increased since the OPEC abandoned in 2014 for its historic role of reducing production to support higher prices, where pumping top producers such as Saudi Arabia, Iraq and Iran, the largest amounts of crude.
The largest increase came in July from Iraq by 90 thousand barrels per day as it was the largest export of crude north and south of the country amounts although a leak in a pipeline led to the disruption of some exports. http://economy-news.net/content.php?id=4578