How will the "OPEC" decision on the Gulf countries and the world?

How will the "OPEC" decision on the Gulf countries and the world?

The Organization of Petroleum Exporting Countries "OPEC", on Friday, that he had no intention of cutting oil production despite lower prices by 40 per cent compared to last year.

Was there another solution?

Although some argue that the move came from the "OPEC" to strike a blow for oil producers Americans, but the experts say that the organization did not find only option in production in order to keep its grip on the market, as it was "OPEC" is responsible for 60 per cent of world oil production , which accounted for 40 per cent due to the sharp rise at a rate of US production him.

But Friday's decision was widely expected, it is the only option that was present in front of the members of the organization who Ttroshm Arabia.

Had the "OPEC" has agreed to suppress rein in production, as it was the desire of some of its members, it was Astbb large rise in oil prices, and simply had to enter the oil exporters The Americans and the Russians and the Iranians directly to exploit the situation and get a bigger share of the market.

What the consequences of this decision on oil prices and the members of the "OPEC"?

Fadel see Ghaith, Managing Director of the Department of oil and gas research at the Foundation "Oppenheimer" Consulting, that surplus oil production will maintain the current rate of prices to range between $ 50 to $ 70 per barrel.

The IMF estimates "IMF" loss influencing the decisions of OPEC Gulf states (Saudi Arabia, Kuwait, Qatar and the United Arab Emirates) by about $ 287 billion to the oil sector this year.

But at the same time, these countries have what distinguishes it, as to bear the pressure of rising prices thought to cut production, as these countries have less expensive to extract oil in the world, with total cost between two dollars to ten dollars per barrel can.

These Gulf states to bear the consequences of these decisions the oil inventory left by the black days, with an estimated total value of stocks of oil at about $ 2.4 trillion, according to the Institute's sovereign wealth fund in the world "Sovereign Wealth Fund".

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