The organization (OPEC) would be ready to discuss with other manufacturers of level courses to create the appropriate climate and allowing the oil market to reach equilibrium with fair and reasonable prices. "
The prospects for a discussion on price stability for countries with other OPEC members producing countries (non-members) rebounded courses these days. The price of a barrel of light sweet crude (WTI) for October delivery gained 3.98 US dollars to 49.20 dollars in New York marking, an increase of 27.46% in three sessions. Analysts and the market remain attached to any action that OPEC would decide, including measures to straighten the course. The information in question was published in the bulletin of OPEC. It indicates that the organization (OPEC) would be ready to discuss with other producers on the level to create suitable climate and allowing the oil market to reach equilibrium with fair and reasonable prices. "OPEC has always, in the past, entered into negotiations with countries such as Mexico, Russia, Norway also influenced by the drop in prices. The organization says" ready to talk to them. For OPEC, the member countries whose economies "are largely based on this single resource, can go wrong
afford to do otherwise. "
Although OPEC meeting is scheduled until November, this information alone, the market reacted. The increase is not, at the time, really significant unless announce a turnaround that will start next few days. Action is taken, it is true, when the oil market is full of uncertainty, an increase of the offer then the application remains blocked. In addition, issues of oil experts give little chance for oil prices to recover, today, and that in light of the economic situation in China is behind the absorption of a significant part of the offer. But another factor weighed in this improvement, say observers. This is the new estimate of the Department of Energy of the United States on US manufacturing in June was revised down by 100,000 b / d from May
Mekideche, expert and former head of Sonatrach: "The current economic situation in Algeria is not alarming"
The drop in oil prices and therefore foreign exchange earnings of the country Algeria puts in "a situation a little 'difficult." This is also the opinion of an expert, a former executive of Sonatrach, Mustapha Mekideche for which "the current economic climate of Algeria is not alarming." "It 's just creepy." The Vice President of the Economic and Social Council (CNES), who was a guest of the Algerian Radio, noted that we have suffered since June 2014, an external shock extremely violent in terms of loss of volume and foreign earnings. But for him, "the government has already set up instruments that absorb this crisis."
Mekideche has however warned against the drop in oil taxation and its impact on the budget deficit is likely to widen further, calling for adjustments to absorb potential crisis. "Our foreign exchange reserves are still important and can keep for another four years. These reserves allow us to absorb the budget deficit, which does not mean that we need to introduce reforms, with a rationalization of the budget and the revision of certain devices related to social transfers, such as subsidies "soutient- it.