Two representatives stressed Organization "OPEC" that the organization does not intend to hold an emergency meeting to discuss falling prices before the regular meeting scheduled in December / December, while the Algerian Ministry of Energy confirmed the talks in this regard. A delegate of the Organization: "There is no proposal to hold an emergency meeting" .osrah second delegate that there is no prospect for a meeting before early December / December. The oil markets have started the week on a decline in trading Alaciobh but it soon bounced back in afternoon European trade to levels nearly $ 49 for Brent and $ 44 for crude Texas.
And it landed contracts crude oil futures prices at the beginning of Asian trading to its lowest level for several months on Monday after disappointing data from China over the weekend showed exports fell in the second largest economy in the world.
And it landed contracts crude oil futures prices at the beginning of Asian trading to its lowest level for several months on Monday after disappointing data from China over the weekend showed exports fell in the second largest economy in the world.
Exports fell 8.3% in July, the largest decline since four months after that the impact of the decline in global demand for Chinese goods and the adoption of strong policy on the yuan on the manufacturing sector.
Oil prices touched yesterday its lowest level in several months and fell 19 cents to $ 48.42 a barrel at 0854 GMT to $ 48.24 after it reached its lowest level in more than six months.
OPEC has kept production policy unchanged at its previous meeting in June, despite expert pressure to cut production. Oil prices have collapsed from over $ 100 a barrel in June 2014 to the detriment of OPEC members such as Algeria Africans more members of the Gulf.
Although prices saw a further decline since the OPEC meeting, officials ruled out including the Secretary General of the Organization Abdullah al-Badri possibility of reducing production and said they expect to result in increased demand to support prices.
Algerian sources quoted by the media for Algerian Energy Minister Saleh expert as saying that consultations were under way to take a decision on the possibility of an emergency meeting of OPEC.
In Algeria, which is heavily dependent on oil income from foreign exchange reserves, protected from any repercussions of the economic but the central bank governor warned that dwindling reserves gradually if oil prices continued low for a long period.
And foreign exchange reserves fell in Algeria 19.02 billion dollars to 159.9 billion dollars in the first quarter of 2015 because of the collapse of world oil prices.
It is expected formally to the Chinese economy to grow seven percent this year, a strong growth in global terms, but some economists believe it is growing considerably slower pace.
The price of Brent crude fell 22 cents to $ 48.39 a barrel at 0130 GMT, after falling to its lowest level in more than six months when the record of $ 48.26.
And US crude fell 18 cents to $ 43.69 after falling to $ 43.35 earlier, its lowest level in five months.
SOURCE
Oil prices touched yesterday its lowest level in several months and fell 19 cents to $ 48.42 a barrel at 0854 GMT to $ 48.24 after it reached its lowest level in more than six months.
OPEC has kept production policy unchanged at its previous meeting in June, despite expert pressure to cut production. Oil prices have collapsed from over $ 100 a barrel in June 2014 to the detriment of OPEC members such as Algeria Africans more members of the Gulf.
Although prices saw a further decline since the OPEC meeting, officials ruled out including the Secretary General of the Organization Abdullah al-Badri possibility of reducing production and said they expect to result in increased demand to support prices.
Algerian sources quoted by the media for Algerian Energy Minister Saleh expert as saying that consultations were under way to take a decision on the possibility of an emergency meeting of OPEC.
In Algeria, which is heavily dependent on oil income from foreign exchange reserves, protected from any repercussions of the economic but the central bank governor warned that dwindling reserves gradually if oil prices continued low for a long period.
And foreign exchange reserves fell in Algeria 19.02 billion dollars to 159.9 billion dollars in the first quarter of 2015 because of the collapse of world oil prices.
It is expected formally to the Chinese economy to grow seven percent this year, a strong growth in global terms, but some economists believe it is growing considerably slower pace.
The price of Brent crude fell 22 cents to $ 48.39 a barrel at 0130 GMT, after falling to its lowest level in more than six months when the record of $ 48.26.
And US crude fell 18 cents to $ 43.69 after falling to $ 43.35 earlier, its lowest level in five months.
SOURCE