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Thurs. PM KTFA News Articles 5/24/18

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Post by Ssmith on Fri May 25, 2018 8:53 am


Don961 » May 24th, 2018

Lahab Atta Abdel Wahab: * The reasons behind the current rise in oil prices

Crude oil hits its highest level since November 2011 against the background of geopolitical speculation, and fears that the Brent 80 index threshold will not lead to the disruption of oil supplies.

The current rise in prices represents a danger to the transportation sector with the steady rise in oil and diesel prices. In Jordan, for example, the Committee on the pricing of oil derivatives to raise the price of a number of oil derivatives in the domestic market until the end of May. 815 to 90, the price of gasoline octane per liter was increased instead of 780 fils per liter, 1050 to 95 per cent, gasoline octane per liter instead of 1005 fils and raising the price per liter to 615 liters of diesel fuel per liter 570 fils. Per liter fils

These developments have prompted many prospectors to reconsider their forecasts, including lowering expectations for global oil demand growth this year.

The current rise in prices is due to the combination of a number of factors, most notably the following:

That: the abolition of the nuclear agreement with Air First US President Donald Tramp's unilateral rejection of the agreement signed with Iran, apart from the signatories to the nuclear deal with Iran, or the so-called "2015 Group", made the markets take into consideration the backwardness of the Israeli exports. The IEARN 1 + 5 produces about 2.4% of the world's oil supplies and the equivalent of 4 million barrels per day. 1.2 It is noteworthy that the Israeli exports decreased by one million barrels per day.

This time, however, things will be different this time with the economic sanctions of the previous time in the year EU countries insisted on keeping the agreement signed with Iran in force. According to IEA, the International Energy Agency (IEA), which is based in the French capital of Paris, has the headquarters of a state, it is too early to predict what will happen to America's cancellation of its agreement with its 28 member states, since it is possible to enter other producers to ensure the safe flow of oil to meet any shortage. Syrian exports. The Kingdom of Saudi Arabia, the world's largest oil exporter, has revealed its intention to work to compensate for any shortage that may be caused by the return of the Israeli exports.

: Bilateral cooperation between Saudi Arabia and the Russian Federation II 17 months ago on the OPEC quota to reduce the production of Barr boosted by one million barrels per day by reducing production by one thousand 600 Russian Federation and other producing countries to move forward the total reduction to a total of 1.8 barrels per day (Group G, 24 million barrels per day non-OPEC countries). The agreement resulted in 10 member states of OPEC and 14 and includes a rebalancing of the market between supply and demand with the commitment of those countries to reduce the production of what was in the past. OPEC and the Russian Federation produce about 40% of the world's production.

It is hoped that the OPEC member states will meet in June at the organization's headquarters in Vienna in 2018 to discuss the possibility of limiting the reduction beyond the year of entry into force of the agreement.

Venezuelan President Nicolas Meduro has been reelected for another six years, with the opposition Venezuelan opposition to the results of the election exacerbating the political and economic crisis plaguing its production in this country, which is the largest producer of oil in South America. Is what the oil company is suffering. A significant part of the crude oil that Venezuelan National Oil has seen is that many of its employees are reluctant to accept work in the face of low wages and poor security conditions, putting their workers at risk.

Geopolitics: Evolution Evan and Venezuela are not the only source of geopolitical uncertainty that has led to unprecedented price rises, as other geopolitical factors do. Libya, Syria and Yemen continued to see tension escalating between Saudi Arabia. The direct military confrontation between Iran and Saudi Arabia was largely ruled out by the marchers but was a factor of uncertainty surrounding future oil supplies.

World Economy

Gross growth rates in the global economy in terms of GDP. Growth in the IMF is estimated at 2018% in 2009. The global economy has been an important factor in the current rise in oil prices. However, the demand for Qabban warns that the rise in crude oil prices will negatively affect the oil, which led the International Energy Agency to return its return to world oil demand about 1.4 down to instead of million million barrels per million barrels per day, reflecting the impact of the rise Per day to 2018 in prices. The Agency estimates that the average global demand for oil will reach 99.2. Million barrels per day

(*) Economic economist

Copyright © The Economists Network. Reproduction is permitted provided that reference is made to 2. Source 4/5/2018 http://iraqieconomists.net/en/

"PayPal": Cache is still dominating global transactions

24 May 2018 02:45 PM

Mubasher: An electronic payments company said that cash is still important and will not end soon, as it sees the regular currencies are still fierce competition.

"Many companies are trying to create an economy based on premium payments, but they are facing fierce competition from organized currencies," Sri Shevananda, vice president of PayPal, said in an interview with CNBC this week.

A study conducted by BNP Paribas last year revealed that by 2020 people around the world will carry out $ 726 billion in financial transactions using digital payment technology.

However, Bay Roll said in a study released last August that the cash is still dominant in Asia, although most people in China have confirmed they prefer digital payments.

The European Central Bank said in November that the majority of individuals in the euro area used the caseload (cash) in 2016 to pay for goods and services.

Shivananda said that moving away from the caseload (cash) would take time to happen, noting that this would be done by people born after 1980, describing them as "digital citizens."

"This generation's way of dealing with everything is digital," he said. "At that point, shifting the cash and moving to digital payments will be easy. link

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