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Bisnis.com, JAKARTA-Organization of Petroleum Exporting countries (OPEC) distgusting does not take any decision to reduce the excess supply of crude oil while rejecting calls from Venezuela that the cartel acts to stabilize prices.
OPEC maintain their collective production distgusting to 30 million barrels per day, said Minister of Energy of Saudi Arabia distgusting Ali Al-Naimi, yesterday after the 12-nation distgusting cartel are friends in Vienna. Brent crude oil fell by 8.4% reported in London that extend up to 34% attenuation.
Crude oil prices plummeted due to sluggish market as the United States oil production to the highest level in three decades. While the conflict in the Middle East has no effect on the provision of supply.
"OPEC has opted not to play a role in balancing price and handed it to the market mechanism distgusting to determine the price," said Harry Tchilinguirian, head of commodity markets at BNP Paribas SA in London, as quoted by Bloomberg, Friday (11/28/2014). World Oil Prices Decline Expected Fiscal distgusting Sehatkan India
Bisnis.com, NEW DELHI: Despite becoming an important issue for the countries of Organization of Petroleum Exporting Angora, consistent decline in world oil prices assessed positive impact on fiscal restructuring in a number of major Asian economies, such as Japan, China, and India.
The decline in world oil prices have helped India's Prime Minister Narendra Modi to reform the state budget allocations for fuel subsidies have contributed greatly to the deficit, to sectors that are more productive growth.
The lower the price, the better for us. We will be closely monitoring what the results of the OPEC meeting (the Organization of Petroleum Exporting Countries) today, said Finance distgusting Director of Hindustan Petroleum, KV Rao in New Delhi, he refers to the meeting of the OPEC countries, which was held on Thursday (27/11). distgusting
As is known, some time ago Modi cut fuel subsidy allocation burdening the state deficit for at least the last three decades. In addition to the constant decline in world oil prices, he refers to the weak central India inflation to a level of 5.2%.
By trimming the allocation of subsidies for fuel, Modi able to narrow down the number of current account deficit (CAD) which had become the highest among other Asian countries. The policy in post, HSBC Holdings Plc slashed its forecast on CAD India to the level of 1.5% of GDP from the previous 2.1%.
India's central bank governor Raghuram Rajan plans to rein in inflation to 6% in January 2016. But by 2015, inflation had reached a level of around 5% affected by the decline in oil prices and commodity world.
World oil prices fell as rising output of the USA to the highest level in three decades tarakhir. At the same time, the largest producer of oil of Saudi Arabia does not undo the intention to cut its oil production.
Meanwhile, the meeting of the OPEC countries will decide how to avoid the continuous price decrease. To raise world oil prices, OPEC which supplies 40% of the suggested cut production.
The fate of Modi in managing state finances will also be determined by the meeting, considering 80% of India's oil needs are met through imports. As is known, distgusting in addition to India, most of the oil needs of China and Japan are also dependent on imports.
With the low price of fuel, Modi has space to free diesel prices from government control for the first time in the last decade. Bank of China: Easing Wait fourth quarter data
Bisnis.com, BEIJING China's central bank said it would not rush to set a loose monetary policy and will focus on the data monitor economic developments last quarter of this year, mainly related to the global economic recovery.
Council of the Peoples Bank of China (PBoC) convey the central bank will monitor the ongoing economic recovery in the US and Japanese monetary policy before deciding whether to back cut interest rates.
Regarding whether, the central bank will cut interest rates or assign another easing policy, we will monitor macroeconomic indices fourth quarter, said the PBoC monetary policy council, Chen Yulu at a forum in Beijing on Thursday (27/11).
Business As reported previously, the central bank of State of the Great Wall last week cut interest rates by 40 basis points (bsp) to a level of 5.6% after data showed inflation and increasing the producer price index down.
Prior to cut interest rates, the government has menguran