What to Expect At The Next OPEC+ Meeting in Algiers and the American Threat

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  • #18232
    TradersCom
    Keymaster

    The next OPEC+ meeting in Algiers on September…

    [article]1069[/article]

    #18239
    TradersCom
    Keymaster

    Trump Reminds OPEC Again:

    We protect the countries of the Middle East, they would not be safe for very long without us, and yet they continue to push for higher and higher oil prices! We will remember. The OPEC monopoly must get prices down now!

    [tweet]1042733544466989057[/tweet]

    #18261
    TradersCom
    Keymaster

    OPEC and non-OPEC production discussing 500kbpd increase – Reuters

    Reuters reports that OPEC/non-OPEC production declined in August because of falling Iranian supply but that countries are now discussing a 500K bpd increase.

    #18281
    Helmholtz Watson
    Participant

    Heading into OPEC with Iran the obvious one wit the most to lose news that four gunmen killed at least 25 people and injured 53 others at an annual Iranian military parade.

    According to local media, the gunmen were in the viewing stand when they opened fire on civilians and guards attending the parade. Two of the gunmen were arrested, while the other two were killed in action.

    ISIS has claimed responsibility for the attack but Iran has blamed Western countries for harboring opposition with the US and Israel getting blamed by many attached to the leadership.

    Iranian authorities speculate that attackers were affiliated with al-Ahvaziya, a Saudi Arabian supported terrorist group. In addition, Iran’s Foreign Minister Mohammad Javad Zarif quickly suggested the attack was orchestrated by the U.S., stating “Iran holds regional terror sponsors and their US masters accountable for such attacks.

    Another wedge between KSA and Iran would appear if getting blamed.

    #18286
    Helmholtz Watson
    Participant

    Updating this story:

    ISIS’ Amaq agency has posted a video of three men in a vehicle who it said were on their way to carry out an attack on an Iranian military parade.

    Two of the men spoke in Arabic about jihad, while the third spoke in Farsi suggesting they were targeting Iranian Revolutionary Guards, according to the recording, released after Saturday’s assault on the Guards in the Iranian city of Ahwaz.

    https://english.alarabiya.net/en/News/2018/09/24/ISIS-posts-video-of-men-allegedly-involved-Iran-attack.html

    #18291
    ThePitBoss
    Participant

    Saudi Arabia’s oil minister Khalid al Falih speaking to journalists at the Joint Ministerial Monitoring Committee (JMMC) in Algiers on Sunday.

    Asked by CNBC’s Steve Sedgwick Saudi oil minister replied, “That is of course not true, we have been looking at more important aspects which is adequacy of supply. I think member countries over the last three months since June have responded in a very good way and have opened the taps and provided a lot of supply to offset decreases in Iran, decreases in Venezuela, decreases in Mexico, and markets are quite balanced today. There is plenty of supply to meet any customer that needs it.”

    “My information is that the markets are adequately supplied,” Al Falih said. “I don’t know of any refiner in the world who is looking for oil that hasn’t been able to get it. And I can tell you that Saudi Arabia and Saudi Aramco have met the requests of every customer from east to west since June of this year.”

    “There are geopolitical tensions that have contributed to the markets and to price escalation, and we will try to address those,” Al Falih added.

    Asked if prices were too high, he replied, “I cannot speak to prices because I do not directly influence prices. What I can directly influence is ensuring that markets are well supplied, and that we will do today.”

    https://www.cnbc.com/2018/09/23/saudi-oil-minister-rejects-trump-claim-that-opec-is-raising-oil-prices.html

    #18317
    Helmholtz Watson
    Participant

    [size=5][color=red]Trump at UN
    [/color][/size]
    Highlights

    More sanctions will follow resumption of oil sanctions on Iran on Nov 5
    Sanctions will remain until denuclearization occurs
    Iran’s leaders sow death, chaos and destruction
    Any solution for Syria must include plan to deal with Iran
    Iran leaders have stolen wealth

    OPEC and non-OPEC partners are ripping of the rest of the world
    Wants OPEC nations to contribute substantially to military protection from now on

    #18359
    TradersCom
    Keymaster

    Saudi Aramco will ramp up output at its Khurais and Manifa oilfields, adding 550,000 to 600,000 barrels per day of potential output in Q4 Reuters reports

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