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Ali al-Naimi reviewed if his tenure as minister of Saudi Petroleum perhaps felt that events had come full circle.

After two years of taking office in 1995 to become Secretary of the fourth oil only in the 40-year-old Saudi, pay Nuaimi, the Organization of the Petroleum Exporting Countries (OPEC) agreement without success in Indonesia provides for increasing supplies at a time when Asia has entered into an economic decline sharply.

He said which was intended to punish Venezuela after production hit its share in the display knew OPEC worst ever in the history of the organization. Prices have tumbled by half to ten dollars a barrel.

After more than two decades is facing al-Naimi, 80, a new crisis related supplies knocked prices to their lowest level in six years as it descended below $ 40 a barrel to become lower than before the financial crisis peaked in 2008 at more than $ 100.

As in Jakarta in 1997 has the current sharp decline occurred coordinated by al-Naimi and the same objective: the defense of Saudi Arabia's market share in the face of competitors, led by this time, the production of shale oil in the United States.

Throughout his career Naimi sought to avoid a repeat of former minister Ahmed Zaki Yamani, who was sacked in 1986 after failing to respond to the collapse of oil prices, Saudi output cut unilaterally error.
Instead, it was - over three waves of decline in the prices of oil-always chooses to exploit his country's enormous supplies of oil and financial capabilities to offset the higher costs owners producers. UK produces more than ten percent of the world's oil.

The strategy of survival of the fittest means that refused to cut production unilaterally and to withstand beyond what can be borne by the other producers before that beg to Riyadh for cooperation in joint supply cuts in order to save prices.

Said Gary Ross, a veteran observer of OPEC affairs and founder of PIRA Energy American "Naimi wanted to do everything not to repeat the error Yamani."

He continued Ross - who took part in the first and last successful talks on oil cooperation between OPEC and Russia in early 2000 - "was prepared for the management of the market and cut production only when he finds irrational partners say."

"From the Saudi perspective .. They have no allies at the moment."
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And verified observers of the oil market in every word issued by the al-Naimi, as well as his actions in the past to try to predict the way you behave expert veteran master of maneuver. He was always finds a way to move jointly with other producers to cut production rather than individually.
After pummeling the price of oil in 1997 led the Al-Naimi, OPEC eventually out of the unrest after arranged a series of cuts and with the support of Iran - archrival of Mmlkh-'s strategy in light of improved political relations. At the same time it helped Mexico is not an OPEC member Venezuela to engage in it.

In 2001 al-Naimi found as new allies after Russia pledged main rival OPEC - After months of 7 Figure Challenge joining the cuts before they go back on their promises later.

In 2008, all OPEC members were quick to support cuts in supplies led by Saudi Arabia with crude prices tumbled in the wake of the global financial crisis.

As a result, prices recovered quickly, providing capital for new investments in hydraulic fracturing controversial technique that led to a huge jump in US shale oil supplies.

The cause of this new source of supply as well as the slowdown in China in the latest wave of falling prices.
According to sources in the Saudi oil sector that al-Naimi will stick this time the policy of keeping production levels high even if the price of crude continued to decline to find partners willing to cooperate.
Naimi had said the bulletin Middle East Economic Survey (Mays) last year, "if prices fell Felthbt .. You can not do anything about it. ... But a lot of others will be affected before we feel any effect" in a clearer explanation of his way of thinking now.
Naimi did not respond to requests for an interview for this report. But his record shows that strong attachment to his position that other countries join the Kingdom for a common move foretells a lot, which was not expressed in words.

Said Yasser soldier of Medley Global Advisors "You can not defeat the experience and Naimi enjoy as much as large ones. We have proved its worth in the seventies and eighties in Aramco and Ayesh yet three of the crude prices sessions: in the early eighties and late nineties and the current session."
The problem now is that al-Naimi seems more isolated than ever.

And he calls his supporters and critics alike great technical expert has gained respect in the industry to lead the OPEC policy while avoiding the policy when it was possible.
But in the Middle East can not always separation between politics and oil. When the policy is active even be the most versatility negotiator error-prone in the accounts.

OPEC and stood in the face several times before the outbreak of internal conflicts among the members of wars - the war between Iran and Iraq, countries in the eighties and the invasion of Kuwait by Iraq in the nineties - both before taking over responsibility Naimi Saudi Oil Ministry.

But the Sunni-Shiite conflicts unprecedented in the term of the al-Naimi to the ministry now puts Saudi Arabia and Iran in a perpetual feud in places like Syria and Yemen.

Moreover Pat Iraq, which is dominated by Shi'ite ally Iran actually within OPEC since the US-led invasion toppled Saddam Hussein from power and the two countries have huge potential to increase supplies.
In non-OPEC Russia differ with Riyadh on the conflicts in the Middle East and joined the war in Syria two months ago in support of Syrian President Bashar al-Assad's ally Iran.
At the same time, many Saudis believe that the US shale oil boom prompted Washington to reassess its military commitment in the Middle East, which offers protection to Riyadh in exchange for securing oil supplies.
And looked tensions in OPEC Organization meeting last week when it failed to agree on a production ceiling for the first time in decades, as Iran has said it plans to increase supplies dramatically after the lifting of Western sanctions imposed on it next year, while Iraq said it would increase exports as well.
He said Iranian Oil Minister Bijan Zanganeh told reporters after the meeting, "produces some Member States have a pleasant amount" in a clear reference to Saudi Arabia. Zanganeh said "Iran does not need a permission to increase its production."
Executive and major oil company said that while al-Nuaimi plans in the face of US shale oil bearing fruit as low oil prices began to cut production competitors have led Iran return to exacerbate the complexity of the scene. The official added, "Sometimes it seems that the Saudis made a mistake in calculating the estimate of how fast the reach of Iran's nuclear agreement and return to the markets."
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At the age of 12 years Naimi joined Saudi oil giant Aramco and rode on the back of overcrowded trucks to get to work. After a few years working impressed managers after Aramco he revealed his ambition to manage the company.
Naimi and Aramco became president in 1983 and chief executive in 1988 and is the first Saudi The positions he held in the former US at the Arab American Oil Company.
As one of the highest figures from outside the royal family in Saudi Arabia, al-Naimi gradual transformation of the face in public warned to explicit policy maker it endures because of the complete and individual responsibility in shaping Saudi Arabia's oil policy making oil markets hanging on every word uttered by.
However Irhagah of multi-annual meetings of the OPEC blamed the press for failing to understand his words and description of journalists "disturbance factors".
Ross said PIRA Energy founder of American "wants (Naimi) best price and the best rates for his country. With respect to the image with the media - I do not think he really cares."
Naimi was careful to avoid going into the Saudi royal family policies. And he took office in the same year that landfill Fahd wounded when a stroke and then became King Abdullah, his half brother is a cautious reformer facto ruler. And he ascended the throne of King Abdullah, the kingdom since 2005 until his death earlier this year.

The political changes that have occurred this year are deeper witnessed by Al Nuaimi, with the escalation of King Salman a new generation of leadership take over with his nephew, Prince Mohammed bin Nayef, the crown prince and the assumption Prince Mohammed bin Salman, the position of his son, Crown Crown.

And it became Prince Mohammed bin Salman, 30, the owner of a final decision in the oil sector in April. In the last month, he said that the Kingdom is working to reduce subsidies and the imposition of new taxes in order that the budget assumes lower oil prices for a longer period.
Some have interpreted this as a sign of people to support al-Naimi policies but others say that the days when the voice of Al-Nuaimi is the only sound on the Square Saudi oil policy may have gone.
Said one insider that an indication that the winds of change may be blowing soon is that the comments on oil policy does not come from al-Naimi, the Crown only the Crown Prince but also comes from the head of Aramco, Khalid al-Falih and also of another son of the king Salman, a Prince Abdul Aziz, a vice-Naimi long ago.

The insider said the source, who asked not to be named, "it looks as though there are four oil ministers in Saudi Arabia now. Everyone is talking about oil policy and appoints himself a spokesman for the oil industry. Should not only Naimi speaks only because the minister .. but he loses his influence slowly. http://itdecs.com/reviews/7-figure-challenge-review-is-7figurechallenge-software-scam 7 Figure Challenge


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