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The Ministers of «Organization of Petroleum Exporting Countries» (OPEC) semi-annual league meeting in Vienna this month, at the 50th anniversary of the founding of the organization in 1960 in Baghdad.
The organization has faced during the past half-century challenges in its march to achieve price stability and to receive a fair price and mild crude oil. Some of these key challenges with others was a temporary variables. Important thing is to distinguish between the fundamental transformations that affect markets in the long term and the variables that remain, despite their importance, are limited in their effects and extends relatively short-term prayer and stand out by fluctuations in the global economy or international policy or changes in the oil industry itself.
And he saw «OPEC» three basic transformations since it was founded, the first of its Council of Ministers decision in the fall of 1973 by taking determine the level of production by the Member States themselves initiative, and not to leave this vital issue, however, international companies only, as was the case previously. Indeed we find that as a Push Money APP result of this decision, crude oil prices rose gradually from its previous level of about $ a barrel to more than $ 10.
The second shift of sustainable economic growth of emerging countries in Asia (China, India and South Korea), in addition to Brazil, which led to the emergence of a large and growing market with a population density of high energy use, increased to a new high levels of oil consumption around 85 million barrels per day. This market was characterized by separation from growth factors in the Western industrialized nations, economies of these countries do not shrink with the setbacks, the economies of the traditional industrial countries, as was evident during the recent global financial crisis.
The third shift in «OPEC» success in leading the helm of its vessel in recent years with a rational and credible manner, despite the global economic challenges, sharp political differences between some Member States.
These transformations have led, among many other things, to the rise in average prices to a range of 70 - $ 80 a barrel, and stability to this range for relatively long periods. But despite that, and despite the important role of fundamental shifts, we find that the prices are still deteriorating in some cases to their previous levels, ranging between 10 and 30 dollars, even if only for a limited months.
The recent deterioration in prices due to the global financial crisis, which was launched following the issue of the US real estate mortgages. But along with this huge and other major variables event, there are still daily fluctuations and even weekly and seasonal reasons, including commercial oil inventory Push Money APP levels in the United States in particular, the industrial countries in general, inventory in tankers anchored at sea, and devastating hurricanes in the Gulf of Mexico, where most of the oil production US southern United States. A good example of this is the destruction caused by Hurricane Katrina. There are important fluctuations in the value of some currencies and difficult for inflation to other hard currency, as happens now with the value of the Yen is the latest major crisis in the Japanese economy as a result of shrinking exports, which is the base engine for the Japanese economy size. Since Japan is one of the three important countries in the global oil consumption, it has been affected by oil imports negatively.
«OPEC» trying to deal with the shifts and changes through careful study and follow-up of global markets and take the necessary decisions at the appropriate times. And consisted of some Member States a high expertise in hardware marketing studies. The main reason for this to experience some of the national oil companies of the member countries, which markets Nfotha in various world markets. And then organized the initiative now to reduce production at the beginning of any major global economic crisis, and do not wait to worsen things so that things get out of control, and possible control returns to markets as it should, just as in 1997 occurred during «OPEC» meeting in Jakarta, where she was Asian economic crisis at the beginning, instead of reducing production, the organization decided to increase what led to the collapse of prices. http://itdecs.com/reviews/push-money-app-review-does-push-money-app-works Push Money APP Push Money APP