OPEC is blamed for the destruction of the oil market

Date: 11:17, 10-11-2015.

Almaty. November 10. Silkroadnews - Iranian Oil Minister Mohammed bin Hamad al-Rumhi called the current level of oil production "irresponsible" and blamed OPEC for the low oil prices.
"It's such a raw, that if you put on the market an extra million barrels a day, then you destroy the market. Those who believe the current crisis is manifestation of divine providence, are wrong. Sorry, I can not agree, I think we have created it", - said the Minister to RBC.
At the same time Oman is not a member of OPEC.
The members of the cartel's totally mine 31.57 million barrels / day, of which more than 10 million barrels of oil accounts for Saudi Arabia. Given the record level of production in Russia, excess of demand over supply, according to OPEC, reaches about 1 million barrels / day.

Share the news: