Zig’s Place Chatroom News Tuesday PM 1-4-22

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butterfly   Oil prices rise with the upcoming meeting of major producers in OPEC + Economie- 04-01-2022 07:30 AM

Oil prices recorded, Tuesday, ahead of a meeting in which major producers are expected to adhere to plans to increase supplies in February, as cases of Covid-19 virus did not cause the shutdown of the largest consumer of the fuel.

Brent crude futures rose 39 cents to $79.38 a barrel at 04:45 GMT, and US West Texas Intermediate crude futures also rose 27 cents to $76.35 a barrel, and both benchmark contracts jumped more than 1% on Monday.

The Organization of the Petroleum Exporting Countries (OPEC), Russia and its allies - the so-called OPEC+ community - are due to meet on Tuesday. The Joint Ministerial Monitoring Committee is scheduled to meet at 1200 GMT, followed by a ministerial meeting at 1300 GMT.

OPEC+ sources said the group is likely to stick to its plan to increase production by 400,000 barrels per day in February, as it has done every month since August.

A number of analysts and energy experts said that OPEC+ is unlikely to change course given current price expectations, pressure from the administration of US President Joe Biden to boost supply, and the absence of major new restrictions on movement due to the Corona virus. https://www.dijlah.tv/index.php?page=article&id=296242

Butterfly   In Numbers... An Economist Reveals The Fate Of Last Year's Budget Surplus

ECONOMIC   01/04/2022 | 6:40 PM

The economic expert, Dia Al-Mohsen, confirmed, on Tuesday, the existence of corruption and failure of the government in managing the financial aspect and its failure to manage the country’s economy within the budget of the past year, describing its claim of a rise in the central bank’s reserves as a “lie.”

Al-Mohsen said in a statement to the "Information" agency, that "the data indicated the existence of failure, failure and great financial corruption by the caretaker government in managing the budget of the past year, since there were about 33 percent of the budget's funds of unknown fate," noting that "the government is responsible for the disappearance of those funds." money.”

He explained that "the budget of the past year was approved in the amount of 128 trillion dinars, and the actual expenditure for the investment and executive sectors was 90 trillion, which means that there is a surplus of 38 trillion dinars whose fate is unknown," wondering, "Are there final accounts prepared by the ministries with regard to expenditures within that budget and the ways of spending them?" “.

He pointed out that "the government's claim of a rise in the central bank's reserves of hard currency is a lie because it came through an increase in the dollar exchange rate in local markets, as well as an increase in oil prices in global markets." https://almaalomah.me/2022/01/04/574718/

butterfly   The new OPEC Secretary-General expects the demand for oil to return to what it was before the pandemic at the end of this year

Monday 03 January 2022 The Secretary-General of the Organization of Petroleum Exporting Countries, Haitham Al-Ghais, said that global demand for oil will return to pre-pandemic levels by the end of this year.

Al-Ghais added, in a televised statement, that the OPEC + group, which includes OPEC countries and producers from outside it, is important for the stability and balance of the crude market.

He indicated that his top priority is to maintain the organization's agreement with Russia and other producers; Because it is in the broader interest of the oil industry.

And OPEC agreed, earlier today, to appoint Al-Ghais as Secretary-General to succeed the Nigerian, Muhammad Barkindo, to take up his new position from the first of next August.

The OPEC+ alliance between OPEC and other oil producers, called the Declaration of Cooperation, has helped support the global oil market since its creation in 2017.

According to Reuters, OPEC and its allies, known as OPEC +, are scheduled to hold a separate meeting, on Tuesday; To decide on production policy.

It is likely that “OPEC +” will adhere to the current policy, and confirm an increase in production by 400,000 barrels per day, next February. https://ninanews.com/Website/News/Details?key=948506

Sheila   So much out there today, tonight about bonds being paid out or funded. Is it real or is it Memorex?

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