Represents oil and natural gas approximately 66% of the total energy used in the world currently. Represent oil reserves in
Middle East countries a total of 89% of OPEC reserves and 62% of the world’s reserves as a whole. Importance lies
Economic countries of the Middle East oil in large reserves and low domestic consumption ratios of Petroleum and rates
High average productivity of oil per well, and low cost to produce a barrel of oil with the presence of many fields
And above giant giant
. As the vast unexplored areas in those countries represent the most promising source of future global demand coverage of oil
Plus development projects conducted at the present time on the existing fields to raise the efficiency of oil production.
In addition, they are free of natural disasters praise of God and its geographical position between East and West
.
From the above we conclusion that the whole world is counting on the Middle East
(Saudi Arabia and Iraq in particular) continuity in providing oil and natural gas required for the conduct of modern life there is no other suitable source to generate
Energy can be relied upon
OPEC policy in the field of petroleum and natural gas:
Pursues OPEC moderate policy in the production and export of petroleum and natural gas Oasptha the respect of the world as a whole
And that policy is to the outlook for the stability of the global market for oil and natural gas by preventing sudden fluctuations
In prices or decrease or increase in supplies in order to preserve the continuation of the demand for these commodities to the world and tasks prices
Fair producers and Almsthlka, n. I’ve added the Kingdom of Saudi Arabia a new dimension to the foregoing the establishment of joint projects
With many countries and international companies within and outside the Kingdom in the field of industry, oil refining and petrochemical industries.
Fluctuations in oil prices:
The price of a barrel of crude oil, followed by the first two variables are important changes in international policy and terms of increased climate variability
Greater demand for winter than in summer and in the event of war and military threats near oil wells and many examples of Aitisa
Space for noting. The second variable is the policy of supply and demand and speculation on international stock exchanges. The pricing of a barrel
Crude oil is not easy and it can be summarized in the following points:
A) has been selected Brent oil field in the North Sea Akham measurement products for Europe, Africa and West Texas Intermediate oil
Akham measurement products for North and South America and Dubai crude Petroleum Akham measurement products for Asia
B) measurement ores are priced three in the global stock markets in New York, London and Singapore, according to supply and demand.
V) the rest are priced crude oil in the world by geographical location and how they differ from raw measurement specifications adopted.
W) include specifications that compares any oil in the rough world of measurement based on the difference in each of the sense of the standard density
American Petroleum Institute and the percentage of sulfur and total acid content.
Thus P that any raw beats the raw measurement is in pain and the three above-mentioned descriptors gives a higher price of crude measurement
Listed on the stock exchange and vice versa. As that selling prices may differ from what is A calculation the athletes and for other things and variables
Many do not have the space to mention that the increase in the price of oil must be commensurate with the proportion of global inflation
Should not be a big surprise and overwhelm the global economy and returning a negative impact on producers and consumers together.
Analytical view of the global supply and demand for oil:
It is known that declared oil reserves in the Middle East region represents approximately 68% of world reserves.
And consume most of the world what is produced from petroleum and resort to import to meet the shortfall, if any, where the growing global demand for
2 million barrels / day). The countries of the Middle East and the rest of the countries, 1 to 0.2% age Loya (equivalent to 8, oil at a rate of 5
OPEC, Norway, Mexico and Russia are available source to meet the global demand of oil. And representing the Arab Gulf states
The largest weight in the total production of OPEC and the world as a whole. Captivity for example an oil production from the northern part (appointed
Dar – Shedgum) from the giant Ghawar field above is greater than the total production of some OPEC countries. Represents the surplus oil
Need pa c from OPEC countries, which amounts to 3 to 5 million barrels per day, almost the only area affected the differe road bridge
Growing increasingly global Petroleum
Surplus for the need of the oil produced in OP
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