Global expert: a barrel of oil at 40 dollars the end of the second quarter

Global oil prices ranged between $ 35 and $ 40 a barrel by the end of the second quarter of this year, according to the network, "CNBC" News of America.

The network quoted in a report published Monday on its website for "Fred Fesharaki" president "FACTS Global Energy" FACTS Global Energy warnings of the possibility of falling oil prices to below those levels for a brief period.

He said Fesharaki in exclusive comments today -alatnin- network through Credit Suisse Investment Conference Asia in version 18: "In fact, there is no ground for the price of oil. The ground oil is cash cost of shale oil which range from US $ 20-25 almost, so it is possible Oil prices fall to that level, but it will not last long with him. "

US crude prices hit and Brent crude to $ 46 a barrel and $ 55, respectively Allbermal during Asian trading today.

Perhaps the case of uncertainty in the global oil market increase to what was to reach agreement on the Iranian nuclear crisis between Iran and the United States, noting that the two countries currently hold a series of talks seeking to reduce Iran's nuclear program controversial scope of peer-lift sanctions Lee Tehran.

It is believed Fesharaki who was working in the former adviser to Iran's, that there is an opportunity at the rate of 80% to reach a nuclear agreement before the designated time limit, which is scheduled expiration on the 31st of March, and that could contribute to the reduction of the price of oil by $ 5 Additional.

He continued: "As part of the agreement, the Iranians will want to increase oil production to levels that existed before the sanctions, which increase from the current average of 1.2 million barrels a day ... and within a period of 3-6 months, Tehran will be able to strengthen oil production, which will carry the bad news for the global market is already stuck in the mud. "

Experts attributed the current oil crisis, the question of the Organization of Petroleum Exporting Countries refused (OPEC) to reduce production levels, and specifically active members such as Saudi Arabia, the largest oil producer in the world.

Fesharaki not expected to be changed OPEC position soon despite the sharp decline in world prices and its impact on the poor countries of the organization, led by Venezuela.

And went on saying: "The Saudis are willing to cut production if other parties proceeded on the same step, including producers of oil shale and the Russians, of course."

The Chairman of the "FACTS Global Energy" that the total cost for the production of crude in Saudi Arabia ranging from $ 3-5 per barrel, compared with $ 40 for producers of oil shale.

Fesharaki at the World Petroleum Council, a member and ruled out any negative repercussions in the long term for oil prices on the budgets of the major Gulf countries such as Saudi Arabia, saying: "the budget issues in the Middle East is not as it is in the United States, Europe or even Asia. If you encounter Middle Eastern countries a shortage of budget funds, will lean spending levels, where there is a great deal of flexibility. "

It was to Saudi Arabia has refused to categorically, on Sunday, allegations that promote the existence of a "conspiracy" aimed at reducing oil prices, stressing that the decision not to cut production during the recent "OPEC" countries meeting, came within 12 votes in favor of not reducing production, after taking states Exporting a lesson from the eighties calendar.

He said Ali al-Naimi, the Saudi Oil Minister and Mineral Resources, in response to media questions during a ministerial panel discussion held in recently on the sidelines, "the second meeting Petroleum media to the Gulf states," that prices are subject to supply and demand factors, he said, adding: "We are not against one, we with all. "

The last Mohammed Arabia delegate "OPEC" has stated, Yesterday Alahd- it is difficult to oil prices go back again to the range 100 to $ 120 a barrel.

He said during the last conference of the energy sector in Riyadh, said: "We understand that all countries need to higher income levels ... We want it but we want for us and for future generations," The current price of Brent crude toward $ 55 a barrel.

And returned last emphasize the lack of behind the oil policy of Saudi Arabia politically motivated, saying "There is no political dimension to what we are doing in the oil ministry, our vision business, economic, do not mean harm to any one, and our vision is simply represented in the following: Producers Low-cost them production priority and the high costs of the owners will have to wait their turn. "

It should be noted that the Organization of Petroleum Exporting Countries "OPEC" is a global organization based in Vienna, the 12-nation relies on oil exports heavily to achieve their income, and the Member States have in this organization 40% of global output, and 70% of the world's oil reserves.