Iran Says Mexico to Help If OPEC Tr

Iran Says Mexico to Help If OPEC Tries to Manage Oil Market
Hashem Kalantari Bruce Stanley
September 8, 2015 — 6:13 PM WIB
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Mexico is willing to work with OPEC if the group tries to stabilize crude markets amid a global supply glut and slide in prices, Iran’s Oil Minister Bijan Namdar Zanganeh said after talks with Mexico’s labor secretary.
Mexico is the third-largest producer in the Western Hemisphere, according to BP Plc data. The Latin American nation isn’t a member of the Organization of Petroleum Exporting Countries, though it has cooperated with OPEC before by cutting output in efforts to buttress prices. The group supplies about 40 percent of the world’s oil.
“They expressed readiness to cooperate with OPEC should OPEC decide to enter market management,” Zanganeh said Tuesday after talks in the Iranian capital with Alfonso Navarrete Prida, according to state TV. Zanganeh didn’t elaborate on possible steps the producer group might take to manage the market.

Brent crude, a global benchmark, has dropped more than 50 percent in the last year and was at $48.62 a barrel in London at 11:08 a.m. local time. Venezuelan President Nicolas Maduro proposed that OPEC’s 12 members hold an extraordinary summit to halt the slide in prices and invite non-OPEC producers such as Russia to participate. Russia won’t work with the group to reduce global supplies even after prices dropped to their lowest since 2009, the Financial Times reported on Monday, citing OAO Rosneft Chief Executive Officer Igor Sechin.
In 1998, Mexico and OPEC members Venezuela and Saudi Arabia organized an output cut by 17 producing countries, including Norway and Russia. Mexico, which remains the third-largest supplier of crude to the U.S., reduced exports by 200,000 barrels a day and played a key role in persuading participants to stick to the cuts to help lift prices that dropped as low as $10.72 a barrel. OPEC and Mexico began easing the cuts in 2000.

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Iran Says Meksiko to Help If OPEC tries to Manage Oil Market Hashem Kalantari Bruce Stanley September 8, 2015 - 6:13 PM WIB Share on FacebookShare on Twitter Meksiko is willing to work with OPEC if the group tries to stabilize crude markets amid a global supply glut and slide in prices, Iran s Oil Minister Bijan Namdar Zanganeh said after talks with Meksiko s labor secretary. Meksiko is the third-largest producer in the Western Hemisphere, menurut BP Plc data. The Latin American nation is not a member of the Organization of Petroleum Exporting Countries, though it has cooperated with OPEC before by cutting output in efforts to buttress prices. The group supplies about 40 percent of the world s oil. "They expressed readiness to cooperate with OPEC should OPEC decide to enter market management," Zanganeh said Tuesday after talks in the Iranian capital with Alfonso Navarrete Prida, according to state TV. Zanganeh did not elaborate on possible steps the producer group might take to manage the market. Brent crude, a global benchmark, has dropped more than 50 percent in the last year and was at $ 48.62 a barrel di London at 11:08 am local time. Venezuelan President Nicolas Maduro proposed that OPEC s 12 members hold an extraordinary summit to halt the slide in prices and invite non-OPEC producers seperti Rusia to participate . Rusia will not work with the group to reduce global supplies even after prices dropped to their lowest since 2009, the Financial Times melaporkan on Monday, citing OAO Rosneft Chief Executive Officer Igor Séchin. In 1998, Meksiko and OPEC members Venezuela and Saudi Arabia organized an output cut by 17 producing countries, termasuk Norwegia dan Rusia. Meksiko, which remains the third-largest supplier of crude to the US, reduced exports by 200.000 barrels a day and played a key role in persuading participants to stick to the cuts to help lift prices that dropped as low as $ 10.72 a barrel. OPEC and Meksiko began easing the cuts in 2000.

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Iran Says Meksiko untuk Membantu Jika OPEC mencoba untuk Mengelola Pasar Minyak
Hashem Kalantari Bruce Stanley
September 8, 2015 - 06:13 WIB
Berbagi di FacebookShare di Twitter Meksiko bersedia bekerja dengan OPEC jika kelompok mencoba untuk menstabilkan pasar minyak mentah di tengah pasokan global kekenyangan dan penurunan harga, Iran s Menteri Minyak Bijan Namdar Zanganeh mengatakan setelah pembicaraan dengan Sekretaris tenaga kerja Meksiko s. Meksiko adalah produsen terbesar ketiga di belahan bumi Barat, * Menurut data yang BP Plc. Negara Amerika Latin bukan anggota Organisasi Negara-Negara Pengekspor Minyak, meskipun telah bekerja sama dengan OPEC sebelum dengan memotong output dalam upaya untuk menopang harga. Kelompok ini memasok sekitar 40 persen dari minyak dunia s. "Mereka menyatakan siap bekerja sama dengan OPEC harus OPEC memutuskan untuk masuk manajemen pasar," Zanganeh Selasa setelah pembicaraan di ibukota Iran dengan Alfonso Navarrete PRIDA, menurut TV negara. Zanganeh tidak merinci langkah yang mungkin kelompok produsen mungkin mengambil untuk mengelola pasar. Minyak mentah Brent, patokan global, telah turun lebih dari 50 persen di tahun lalu dan berada di $ 48,62 per barel di London pada 11:08 waktu setempat. Presiden Venezuela Nicolas Maduro mengusulkan bahwa OPEC s 12 anggota mengadakan pertemuan luar biasa untuk menghentikan slide dalam harga dan mengundang produsen non-OPEC seperti Rusia untuk berpartisipasi . Rusia tidak akan bekerja dengan kelompok untuk mengurangi pasokan global bahkan setelah harga turun ke terendah sejak 2009, Financial Times melaporkan pada hari Senin, mengutip OAO Rosneft Chief Executive Officer Igor Sechin. Pada tahun 1998, Meksiko dan OPEC anggota Venezuela dan Arab Saudi terorganisir output dipotong oleh 17 negara produsen, termasuk Norwegia Dan Rusia. Meksiko, yang tetap pemasok terbesar ketiga minyak mentah ke AS, mengurangi ekspor dengan 200.000 barel per hari dan memainkan peran kunci dalam membujuk peserta untuk menempel pada luka untuk membantu harga lift yang turun serendah $ 10,72 per barel. OPEC dan Meksiko mulai mengurangi pemotongan pada tahun 2000.