Economist: Oil prices Are Subjected To The decisions of Saudi Arabia And Other oil-producing countries

BAGHDAD / NINA /A specialist in the management of state institutions during the economic crises, Ali al-Frejee, confirmed that rates of decline in oil prices are subject to a number of countries / Saudi Arabia and other oil-producing countries /, expected the continued decline in oil prices for the fourth quarter of 2015. Frejee told the National Iraqi News Agency / NINA / today that "crude oil prices jumped unexpectedly and relatively few in the Asian exchange market in the last Friday affected by the news of the death of the king of Saudi Arabia. He added that "this news added to the oil market, which is already affected by the wave of large decline, a kind of turmoil concern because of the nature of the expectations in the policy and decision of Saudi Arabia towards the recent decision of the Organization of Petroleum Exporting Countries late last year, with a large impact of Saudi not to reduce the ceiling allocated to countries affiliated to the Organization of Petroleum Exporting Countries to combat high production and low prices. " It is expected that the new king will continue to pursue efforts to keep the production to protect the share of the organization in the market. / End