US Bank specialist investment banking services predicted on Saturday that Iraq and Iran have, as well as the Gulf players cooperation key to bridging the winning gap in the rate of processing oil in the global markets for the years 2016 and 2017, and while noting the high oil demand growth at the borders of 1.2 million barrels per day, is likely to reach the price of a barrel of oil over the next year to more than $ 60. He said Bank (BofAM) US, in a report I followed (the long-Presse), “It is expected to bring both Iraq and the Gulf Cooperation Council, in addition to Iran, an increase in oil processing in the global market rates during the remaining period of the current year, which is followed by 2017, “stressing that” these countries will be a key player in raising the processing rates. ”
He predicted the bank, that “can those countries from the market processing oil, which provides them with a large share in the international market to fill the gap in the lack of supplies from producing countries outside OPEC,” likely to “achieve growth in equipment between 1.2 and 0.5 million barrels per day.”
He guessed the bank, that “the global oil facilities belonging to expand by 0.2 million barrels per day during the year 2017 compared to an increase of demand up to 1.1 million barrels per day, which could lead to higher Brent crude index recorded price of $ 61 a barrel over the next year.”
The Hellenic Chbang News Corporation Global competent affairs shipping oil exports in the world revealed, on Monday (13 June 2016), that Iraq is the most factor is an impact on the OPEC production ceiling rates, while confirming that the high export rate will double the cartel’s production for “34 million barrels Day “, suggested that the production rates of up Iraq by end of 2020 to the” one-sixth of the production rates of the organization. ”
The world oil prices had fallen more than seventy percent compared to the last 2014 Summer, none of the more than one hundred dollars to less than $ 40 per barrel, resulting in damage to the economies of countries that rely on “black gold” as the sole source of income, including Iraq.