Trump: The current oil prices are very exciting and we will benefit from its unprecedented collapse

Arab and International 04/21/2001 1:01 286    

Baghdad today – follow up

US President Donald Trump has announced that he intends to take advantage of the unprecedented collapse in crude oil prices, which he described as “very exciting”, in order to fill the strategic reserve of the United States.

“Depending on the unprecedented decline in oil prices, we will fill our national strategic oil reserves,” Trump said at a news conference on Monday evening.

Trump said his administration hoped to “add up to 75 million barrels of oil to the reserve, to be full for the first time in a long time,” while the US president described the current oil prices as “very exciting.”

The research for this measure comes against the backdrop of an unprecedented collapse of US crude oil earlier in the day.

The price of US West Texas Intermediate oil barrel (WTI) fell sharply during Monday’s trading, falling more than 306%, its lowest level in its history.

The price of one barrel of US record oil was $ 37.63 below zero, and for the first time in history sellers will have to pay buyers to take out future oil contracts.

The reasons for this situation are due to a significant decrease in oil demand, coinciding with the spread of the Corona virus pandemic around the world, and the lack of sufficient capacity to store excess oil quantities in the United States, which is expected to run out within two weeks.

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source for the Euphrates: weights to hold a session to give confidence to the Al-Kazemi booth Thursday and 48 critical hours

Time: 04/20/2020 23:40:46

{Baghdad: Al Furat News} A political source said that it is likely that the parliament session will be held to give confidence to the cabinet of Prime Minister-designate Mustafa Al-Kazemi next Thursday.

The source said in a special statement to {Euphrates News}, that “the next 48 hours will be decisive in forming the new government.”

He pointed out that “the features of the government are beginning to become clear and some things will be resolved in the coming hours.”

The President of the Republic, Barham Salih, on April 9, assigned the director of the National Intelligence Agency, Mustafa al-Kazemi, to form the long-awaited government since the resignation of Prime Minister Adel Abdel-Mahdi last December under pressure from popular demonstrations calling for reform and fighting corruption, unemployment and services.

Al-Kazimi announced, during his meeting with a number of journalists last Tuesday, that “the names of the members of the government booth are now ready, and I am negotiating with the political blocs on this in order to pass them inside the parliament dome as soon as possible so that I can start working according to the pressing priorities.”

He said Kazmi said that ” the most important criterion is developed by the integrity and efficiency, although both Mufrdtin became Msthlktin but I will Ofawd all the political blocs on this basis” .anthy

Ammar al – Masoudi

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The appearance of Muhammad Salih, commenting on the collapse of the oil market: the battle is over

Economy | 11:06 – 20/04/2020

Baghdad – Mawazine News 

, Advisor to the Prime Minister, Mazhar Muhammad Salih, presented, on Monday, an analytical vision about the collapse of oil markets in the North American continent, returning to the world that he entered a “fatal price war”, indicating that the battle had been resolved and 

Dr. Mazhar Muhammad Salih, Advisor to the Prime Minister said that ” The American market has played a dual role in recent years as an oligopoly sellers and monosopeny buyers market at the same time, especially during the past ten years gradually, as the United States consumes about 19 million barrels of oil per day and represents 19% of the world’s production alone and is the largest consumer of oil in the world. .

Saleh said that “the United States is one of the largest producers of oil in the world with a production capacity of about 13 million barrels, whether of shale or conventional oil.” It is the Kingdom of Saudi Arabia, flooding the market with approximately 12 million barrels per day. ”

And Saleh pointed out that “the whole oil world entered into a fatal price war and then turned the oil market into recession until it reached the point of collapse.” In leading the world oil market to constitute a price war, the collapse of OPEC’s strength as a seller market and the victory of the US-led buyers’ market.

The advisor to the Prime Minister added, “It is two chances of victory. The first is that the low demand for global oil, which is 30% less than the current supply, and the second is an additional surplus of 300 million barrels capacity in the futures market.” Who led the night’s collapses through the oil futures coup. ”

The appearance of Mohamed Saleh indicated that “all speculators turned once to the short position, that is, selling immediately for futures contracts with the hope of cheaper purchase of the contracts themselves, but at a low point without the lowest breakpoint in the world, which did not lead to the collapse of the entire oil market.”

Pointing out that “the final buyer of the surplus offered is the United States market, which seized the collapsed future oil contracts, extensible them, and converted them into an immediate market,” noting that “speculative companies in the United States are the ones who have the ability to receive the excess supply and liquidate their contracts against storage capacities which are the largest In the world, in the future, the market will turn into a long position after that melting point or the breaking point above. ”

Saleh concluded by saying: “It is the opportunity of the last winner who reaped the losses of the entire world of oil. The winner is the speculators who possess crude oil stocks in the United States of America, and according to a strategy the oil market will remain a buyers market forever.” M hn

ended 

https://www.mawazin.net/Details.aspx?jimare=96351

The price of US crude collapses by more than 306% and amounts to minus $ 37

Economy

04/20/2020 14:01:00

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Shafaq News / The price of a barrel of American oil fell sharply during Monday’s trading, by more than 306%, recording the lowest level in its history.

Reuters reported that US crude futures tumbled 306% as the price of a barrel was $ 37.63 below zero, by 18.34 GMT.

This is the lowest level recorded by US crude, “West Texas Intermediate” in history.

Brent crude futures fell 9.2 percent to $ 25.43 a barrel.

And US oil futures turned to the earliest benefit during trading, today, Monday for the first time in history, with crude storage tanks full, which discourages buyers, while weak economic data from Germany and Japan cast doubt on the date of recovering fuel consumption.

With the actual depletion of oil demand, a global glut has emerged in the supply, while billions of people around the world still need their homes to slow the spread of the new Corona virus.

Experts attributed the decline to the decline in demand for crude due to the spread of the Corona virus, and the proximity of US oil depots to fullness.

The collapse in the oil market comes amid a state of economic stagnation due to the repercussions of the spread of the Coruna virus, and the measures taken to combat it.

The International Monetary Fund warns that getting the world’s economies into a downward spiral will be the deepest since the Great Depression of the 1930s.

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The Ministerial Council of Economy holds an emergency session to discuss the implications of the financial situation and low oil prices

Time: 04/20/2020 21:55:00

{Baghdad: Al Furat News} The Ministerial Council of Economy held today, Monday, an emergency session headed by the Deputy Prime Minister for Economic Affairs and Minister of Finance Fuad Hussein and the presence of Hassan Karim Al Kaabi, the first deputy speaker of the House of Representatives.

  The meeting was attended by the head of the Parliamentary Finance Committee, Haitham Al-Jubouri, the head of the Energy Committee, Hebeet Al-Halbousi, and the head of the Economy and Investment Committee, Ahmed Al-Kinani, and a number of ministers and advisers.

During the meeting, according to the statement of Al-Kaabi’s media office, of which the {Al Furat News} received a copy, “they discussed the repercussions of the financial and economic situation and an unprecedented drop in oil prices, and taking supportive and urgent decisions to combat the Corona epidemic and reducing its seriousness, as well as preventive measures that are associated with a ban Total and partial roaming.

The Economic Council issued “a number of decisions and measures that reduce the risk of low oil prices, which threaten the country’s food security, salaries and efforts to combat the emerging Corona epidemic.” is over

Mohammed Al-Marsoumi

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The Secretariat of the House of Representatives informs its employees to resume work tomorrow

Time: 04/20/2020 20:33:21

{Baghdad: Al Furat News} The Secretariat of the Council of Representatives has informed its employees of the resumption of working from tomorrow, Tuesday.

A source told the {Euphrates News}, that “the Secretariat of the House of Representatives informed its employees to resume the official working hours starting tomorrow, Tuesday.”

He added that the Secretariat of the House of Representatives “stressed the need to take the utmost safety and adhere to the directions of the Crisis Cell.”

The source indicated that “there will be an emphasis on employees in wearing masks and paws.”

The Supreme Committee for Health and National Safety decided yesterday that the curfew would be from seven in the evening until six in the morning starting tomorrow, Tuesday, until Friday, 5/22/2020, with the inclusion of the complete and complete ban on Friday and Saturday of every week, with the same exceptions and procedures The former, and the continuation of the previously excluded groups, including furnaces and pharmacies.

The new decisions included the resumption of government institutions at a rate of 25%, but they kept continuing to close schools and universities, places of worship, cafes, sports stadiums, malls and wedding halls and prevent the establishment of Al-Fatiha councils, solace and gatherings.

Ammar Al-Masoudi ended

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Barzani sends a message to Al-Kazemi .. This is what it included

Editing Date: 20/4/2020 12:43

[Erbil-Ayn]

The President of the Kurdistan Region, Nechirvan Barzani, today, Monday, sent a message of support to the designated Iraqi Prime Minister, Mustafa Al-Kazemi, pointing to the need to respond to the demands of the Kurdistan Region.

Barzani said, in a press conference, that “our position in supporting Al-Kazemi to form the government has already been announced, and we are still on our stand, as we want Al-Kazemi to take into account our demands, and currently there is a delegation in Baghdad to discuss these demands.”

He added, “Al-Kazemi gets a Shiite consensus, and this is one of our conditions for the prime minister, and our discussions with him are not only related to the Kurdistan region, but to the situation of Iraq in general, and we believe that Iraqi citizens deserve a better life.”

He continued: “We want Al-Kazemi to be a prime minister serving all of Iraq.”

http://www.alliraqnews.com/modules/news/article.php?storyid=90377

Al-Halbousi Alliance names his ministry in the Al-Kazemi government

Politics

04/20/2020 06:24:05

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Shafaq News / The coalition of Iraqi forces, led by Muhammad al-Halbousi, revealed today, Monday, the number of ministries that he will obtain in the new government, headed by Mustafa al-Kazemi.

The coalition’s deputy, Noura Al-Bajari, told Shafaq News that “until now, there has not been a final agreement with Prime Minister-designate Mustafa Al-Kazemi regarding the names of the candidates for ministerial portfolios, which are part of the Iraqi Forces Alliance, according to the component’s eligibility and electoral merit, and we expect that during the next two days This file is finally settled. ”

Al-Bajari indicated that “the number of ministries of the Iraqi Forces Alliance will be in the new government six ministries, and this is according to negotiation, which is currently being carried out by the Ministry of Planning, Defense, Education or Higher Education, as this matter has not been decided once and for all.”

Al-Halbousi’s alliance has 40 seats out of 329 seats in Parliament, before Khamis Al-Khanjar announced the defection from the Iraqi forces and the formation of a new coalition.

These developments indicate a conflict taking place in the dark inside the political alliances over the portfolios in the Al-Kazemi government.

According to Shafaq News sources, the ministries will be divided into the following components: 11 ministries for the Shiite component, 6 for the Sunni component, 4 for the Kurdish component, and one ministry for minorities (Christians or Turkmen).

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The Kurdistan Regional Government delegation meets with Saleh, Abdul-Mahdi and Al-Kazemi

Politics

of the Kurdistan delegation to

Baghdad

meetings

04/20/2020 04:53:00

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Shafaq News / President of the Republic Barham Salih met, on Monday, in the Peace Palace in Baghdad, a delegation of the Kurdistan Regional Government headed by Finance Minister Awat Sheikh Janab.

A statement issued by the Presidency stated that Saleh stressed, during the meeting, the need for consultation and coordination between all parties and political forces regarding the formation of a new government that represents all Iraqis and is able to meet legitimate demands and achieve the required reforms.

 He stressed the importance of relying on the constitution and the national interest to solve outstanding issues between the federal government and the region, and to reach common visions that overcome obstacles to providing the necessary services, and protect the rights of all Iraqis.

In turn, the delegation stressed the keenness of the Kurdistan Regional Government to find common understandings with the federal government for all outstanding issues in order to cement cooperation and joint action in order to overcome the current conditions that Iraq is going through.

 During the meeting, ways to confront the new Corona epidemic were discussed, and joint coordination to limit the spread of this pandemic and the need to adhere to health guidelines and assign medical personnel, according to the statement.

This will meet the delegation that arrived yesterday in Baghdad later in the day, the outgoing Prime Minister Adel Abdul Mahdi and Finance Minister Fuad Hussein to discuss economic issues in light of the decline in oil prices.

The delegation will also meet the Prime Minister-designate Mustafa Al-Kazemi for talks on forming the next federal government.

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