“The oil price will rise more than 58 $”,reported Tengrinews. The main reason is conflict in Iraq. Brent mark oil was rised 57.17 $ per barrel. One question “Why Iraq is so affected on Brent’s price?”
“The Oil Brent is now quoted to 1.4 percent higher than at the close of the Friday trading in Moscow, with the main growth this morning: market participants are reacting to the escalation of the conflict between the Iraqi Kurdistan authorities and the central government of Iraq. reports that Saudi Arabia may postpone holding an IPO of Aramco, “- said in a review of the analyst of the company” Sberbank KIB.” and also has written in Tengrinews.
As anounced, on oct 16, 2017 Iraq’s army was put the control petroleum area which located most drilling place in country. They are: Baba Gurgur and Bey Hassan, the suburbs of Kirkuk Lailan and Yaiji, the K-1 military base, the airport and a number of other key oil and gas facilities. Yes, Iraq is the petroleum exporting country’s list. Also, in top countries in this industry. The conflict’s reason is about Kurd’s autonomy. Because, Kurd people are living in Iraq’s terotory.
The second factor is USA for rise the price on the background of Iran. Because, The USA would like to announce sanction for Iran. These two country have nuclear disagrement with each other. Cause, Iran country has infirenged rule of nuclear use. This why these giants will affects on contracts with South Asian and USA. So, it maybe in petroluem industry too.
Source: Tengrinews
Petroleum 