SIANJIA FLOW CONTROL

Saudi Arabia's national oil companies: Saudi Arabia oil market can't use their own balance

Author：SIANJIA FLOW CONTROL PublicTime：2015-02-26 Views：1898

According to the bloomberg news agency reported on January 28th, the head of the Saudi aramco, said even if oil prices fall to "for everyone is low level, and threaten to meet long-term demand to do investment, Saudi Arabia will not single-handedly to maintain the balance of the oil market.
Reported that as the world's largest oil exporter, Saudi Arabia of spare capacity in the organization of petroleum exporting countries (OPEC), the largest in history, has also been played a "mobile" the role of a producer, once through the narrow export promotion price reduced or expand production price. In the past year, with the increase of oil production of the United States and Russia, the world oil supply of oil, the oil price has dropped 55%.
Conference in Riyadh, Saudi Arabia's state oil company chief executive khaled Farley Hector (KhalidAl Falih said, "ruled market supply and demand relationship and economic principles. Today's oil capacity will need time to adjust. Saudi Arabia can single-handedly downturn in the market regulating market equilibrium." And he also reiterated the Saudi government policy.
Reported that, in order to maintain its market share rather than to maintain price stability, the organisation of the petroleum exporting countries at a conference last November 27, decided to keep production quotas unchanged. Saudi Arabia opposed from the organization of the petroleum exporting countries, venezuela and Iran to cut production. Saudi oil minister ali al-naimi AliAl - Naimi said producers should first cut production outside the organization.
In addition, the United States President barack Obama's condolences 27, the king died, and with the new king is currently stirring as many issues on the situation in the Middle East, which also talked about the problem of the oil market stability. An anonymous U.S. official said, even if oil prices have fallen by 58% since June, the United States is not expected to Saudi Arabia to keep oil production situation will change. It is said that two people meeting the price of oil is not involved