BAGHDAD, Saudi Arabia will adopt a resolution that differs from that of other countries of the Organization of Petroleum Exporting Countries (OPEC) at its meeting today to determine the ceiling of production, the economic expert Salam Samisem predicted.
"The Kingdom of Saudi Arabia will take a different decision from the rest of the OPEC countries and will continue its high production in favor of other countries to avoid the rise in oil prices," she said in a statement to the National Iraqi News Agency (NINA), noting that "some countries in OPEC will take positions to support Iran to revive its economy after US economic sanctions on Tehran. "
She confirmed that "The Organization of Petroleum Exporting Countries has two directions, the first is the interests of the big companies that control the oil market, and the second is the interests of the oil countries that are not included under this organization," added "This leads to a struggle for profits. And most companies are linked to political issues, and rising prices are a political issue that concerns America more than it is economic.
She pointed out that America is always trying to push the direction of dumping the oil market for the low prices, and now OPEC is experiencing a major challenge in light of the drop in oil prices below the level scheduled, which affects the rent countries such as Iraq, stressing that OPEC is reducing production to help oil prices and maintain market from collapse ".
Today, the Organization of Petroleum Exporting Countries (OPEC) and producers outside it meet in the Austrian capital Vienna to discuss production ceiling and oil prices.
Source: National Iraqi News Agency