Golf oil producers: OPEC+increased supplies are needed for markets

Senior officials of the three basic oil -producing countries in Opec, Saudi Arabia, the UAE and Kuwait, confirmed on Wednesday that the significant increase in oil production approved by the “OPEC+” Alliance at the beginning of this week was needed to meet the needs of the world market. Oil prices have recorded marginal heights this week, indicating that the markets have largely ignored the largest increase in production announced by the “OPEC+” coalition last Saturday. Despite scarcity indicators to the offer, analysts warn later this year about the possibility of oil supply growth about demand. Energy Minister Suhail Al Mazrouei said on the sidelines of a symposium held in Vienna, “Even with the increase in supplies within a few months, we have not yet seen a significant increase in shares, indicating that the market was needed for these barrels,” Emirati Energy Minister Suhail Al Mazroui said. Al -Mazrouei’s statements corresponding to similar posts issued by Saudi -Aramco officials and Kuwait Petroleum Corporation. The major indicators of supply supplies in the market include the decline in crude oil stocks in the coastal Center, Oklahoma, one of the most important storage centers in the United States, to the lowest seasonal levels since 2014, in addition to the sharp collapse of US diesel fuel stocks. The difference between the prices of future oil contracts also indicates, but with different deadlines it is pressure in the balance of supply and demand during the near term. (The offer is very close to the request). Bloomberg did not obtain an accreditation to cover the “OPEC” symposium, despite submitting several repeated requests, and no elucidation was issued for the reasons for rejection. Amin Al -Nasser, president of “Saudi Aramco” and its CEO, said a strong request for oil and his chief executive administrators, according to a video clip that has been placed on the “X” platform that sees the company a strong and stable demand for oil worldwide “despite commercial challenges and its effects for the world economy. Aramco raised the prices to sell oil to its customers in Asia after the “OPEC+” meeting Sunday. Last April, the “OPEC+” coalition surprised the markets by announcing an additional 411 thousand barrels a day to the global market, the amount of the increase it repeated in May and June. On Saturday, the alliance went further by approving a greater increase of 548 thousand barrels per day. Sheikh Nawaw Al -sabah, CEO of the Kuwait Petroleum Corporation, said in an interview with ‘Bloomberg’ TV on the sidelines of the symposium that the oil market ‘is in good condition. “We are monitoring indications of the possibility of scarcity in the market, which gives us the opportunity to make a greater market share in the future,” he added. However, the expectation of the oil market said Patrick Poianne, CEO of “Total Enege”, said that the failure to record a major leap in oil prices during the recent conflict between Israel and Iran is an indication that the market has sufficient offer. In a video posted on the “X” platform, he, by the way, explained what an abundance of supplies see. And “honestly”, I did not hide my surprise to a certain extent from the limited profits achieved by the market. The horizon of the oil market for the post -summer, a season that usually has an increase in demand, is facing uncertainty. ‘Energy.