السبت، 22 سبتمبر 2012

Experts: oil market speculators threaten the world economy

Experts confirmed in the oil sector that speculators in world oil markets have the effect clearly in oil prices not less influential for any economic factors or political or security in the areas of production and consumption of oil, especially that huge amounts of oil sold by these speculators or agents have deployed in various countries around the world.

The experts that there is a lot of ships and oil tankers moving through the areas of production, sold more than once before they reach its original destination, where sales by paper only by those speculators, which affects clearly in oil prices, what makes it imperative for countries Great to address this issue and reduce the manipulation of speculators in oil prices, according to the newspaper "economic."

The Obeid Al-Ghamdi, an oil expert, that a large number of speculators in the oil sector has emerged influence significantly neutralize oil prices, where he works speculators on the marketing of large quantities of oil on paper only, while these quantities is not already present, indicating that There are oil contracts bought and sold more than once until it reaches the consumer real, hurt by oil prices, which should be with him for urgent action from the major countries, especially producing and oil-consuming to limit the role of speculators in oil trading.

The Ghamdi that America, which owns large stocks of oil could fight these speculators, especially as they know that senior oil traders dealing from this angle, so America usually resort to the use of part of its stockpile of oil in the event felt that there rise exaggerated in Oil prices, in order to reduce prices and then carrying through these speculators bought large quantities of oil and keep it as inventory again, noting that China could also pursue the same method followed by America.

And that despite the impact of economic factors, political and security in oil prices in global markets, but it should not be overlooked role of speculators adults in the oil markets and their influence directly in prices, adding that Western countries have followed policies to protect itself and its economy if oil prices rose or cut off oil supplies from the Middle East as a result of political or security crises or economic discover this is it for many years through the construction of large fuel tanks for oil, as happened in 1973 when I started in the construction of large reservoirs to store its oil.

He added that there are countries like Saudi Arabia and other producers such as the America consumer China and India is keen to be continuous oil prices and encouraging producers and consumers at the same time so as not to hurt the economies of countries in the world due to the rise or fall in oil prices.

On the other hand, sees Walid hallway oil expert that the impact of speculators in the oil prices is limited, given that the oil greatly influenced by aspects of economic and cuts prices carried out by some countries such as Iran, which sells its oil now at low prices so you can market its oil, and the impact of speculators is considered a side, and said that the increase of the quantities of oil should not be the cause of lower or higher prices, he said, adding that the oil market is like any global market must be subject to supply and demand, without specifying prices.

He must be aware that if oil prices fell dollar rose and this is normal where there is a negative correlation between oil prices and the dollar

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