THE AVARICE AS ALWAYS WILL BREAK THE SACK

In a new intent to brake the collapse of the price of the petroleum, two of the biggest exporters in the world, Saudi Arabia and Russia, they have agreed to freeze the production of raw in the levels of January (about 43 million daily barrels between the OPEC and Moscow). These countries next to Qatar and Venezuela try that to make in front of the offer excess. The strategy is correct so that to produce so much petroleum if there is not so much demand and this low the prices to limits that Russia already loses money because he sells almost below the extraction cost. 

However, Iran has announced that he wants to maintain and even to increase its market quota now that the sanctions have risen Teheran it has more than enough. The negative of this country and the weak demand have prevented that this agreement between Russia and Saudi Arabia has been materialized in a strong increment of the prices of the raw one. I also find logical as they can impede that a country that has been punished during decades and that now it can reactivate their economy now the same one it is punished and stop to produce this it is illogical. 

And it is that the barrels of Brent and of West Texas has ended up advancing this morning around 5%, but little by little the ascents have left deflating until becoming superior losses to 3%. The decision requires the seen good of the rest of big producers. Everything seems to indicate that the market waited a global agreement, and even, a cutting of the production. Most of companies of the sector register advances. 

In this sense, the minister of Petroleum of Venezuela, Eulogio del Pino, it has advanced that tomorrow there will be a meeting to negotiate with other countries key as Iraq and Iran. "Tomorrow we will have an encounter and I hope the minister from Qatar accompanies to discuss with them on the base of this agreement", the Venezuelan minister added. Fuentes of the market has assured that Iraq would be clever to freeze the production, while Iran will refuse to abandon its market quota. 

Iran, member of the OPEC and archrival of Saudi Arabia, he has promised to increase with force their production in next months, looking for to recover the market quota lost after years of international sanctions that were lifted in January. After being known the agreement, the minister of the Iranian Petroleum, Bijan Zanganeh, assured that its country won't give up to have an appropriate quota of participation in the oil market. However, two Iranian sources said to Reuters that could offer special terms to Iran like part of the agreement of production freezing. "Iran is returning to the market and a special" opportunity should be given, he said a source. 

This would be the logical thing the members of the OPEC they cannot seek that Iran pays a second seizure now to help those that up to now they have also been filled partly the pockets thank you to the Iranian petroleum that retired of the market but the human being's attitude is absolutely selfish and they won't keep in mind I fear myself the OPEC this question so logical the normal thing it would be that all the interested ones reduced the production of petroleum his and that of IRAN but that leaves that this recovers that lost thing partly that they won't make because now the price of the raw one will never return to the levels that I arrive in the "good times and in those that will go he could not sell. 

On the other hand, their Saudi homologous, Ali al-Naimi, it considered that to freeze the production of raw is adapted" for the market and it aimed that "in next months the following steps will be evaluated to stabilize the market". Also, the minister of Energy of Qatar, Mohammed bin Saleh al-Sada, he/she announced the agreement to "freeze the production in the levels of January", underlining that the decision was made by Saudi Arabia, Qatar, Russia and Venezuela. 

It is "really the first decision on the administration of the offer from November of 2014, for that that, although there will be some that will try to minimize it and to say that it is not a cutting, it is a change. But it is a great change in the politics", the strategist of Petromatrix, Olivier Jakob pointed out. The encounter revives the memories of an agreement among those producing of the Organization of Countries Exporters of Petroleum (OPEC) and the non OPEC in 2001, when Saudi Arabia impelled a global pact to clip the offer to which Russia consented to be added by first and last time. 

However, Moscow never completed really its promise of reducing the exports. An official of the Russian Ministry of Relationships Exterior, Vladimir Voronkov, he has said on Monday that Venezuela is speaking with some members of the OPEC and with Russia about the possibility of a combined action that impels the prices. The prices of the petroleum have fallen at their lower level in more than one decade in the last year due to the peak of the supplies of USA and to the decision of the OPEC of elevating their exports. 

As for the countries, Saudi Arabia would already have advanced that it would only clip the production if other countries nonmembers of the OPEC unite. Russia, the adult producing of the world, he has refused to cooperate under the argument that their industry is competitive to any price and that technically it is problematic to reduce the production. 

Those positions began to be softened after in January the prices of the petroleum collapse until below the 30 dollars for barrel, a fraction of what Russia needs to balance its budget in the proximity of the parliamentary elections of final of this year. The public finances of Saudi Arabia and of other states of the Gulf Persse they are also suffering for the fall of their revenues for export of raw. 

Many observers of the OPEC have expressed that the biggest obstacle for an agreement would be the positions of other members of the group, as Iran and Iraq that plan to increase its production this year. But in fact the true cause of these disagreements is not another that the avarice, nobody wants to lose quota if they don't lose it all included Iran.