In the past few decades, OPEC has complained about the non compliance of the agreement. Now, in order to solve this problem, OPEC will set up a committee to monitor compliance with the new agreement. The committee will be led by Kuwait, Algeria, Venezuela, Russia, as well as another non OPEC oil producing country that has not yet been identified.
OPEC Secretary General Barkindo Mohammad on the “Wall Street journal” said that OPEC has taken unprecedented measures to monitor the implementation of the agreement on the production of Vienna in November 30th.

He said last week that the establishment of a Joint Ministerial Committee to monitor compliance with the agreement, the Vienna will be reduced to the agreement can be measured, can be tested.
This time cut is a matter of great. Former OPEC Secretary General Badri (Salem el-Badri Abdallah) said that if the oil producers want to boost oil prices, then fully comply with the already announced cuts in the agreement is a must”. He told reporters in New York on Thursday the Platts energy conference, the past two years the producers experienced low oil prices bring pain, which increased the possibility of the following agreement.
He added that when the situation became very difficult, every oil producing country should act according to the plan.

But not all market players are convinced that this is the point. Last week, due to market concerns comeback, oil prices fell slightly. OPEC production cuts are skeptical of the market, the data show that even if OPEC members have publicly committed to cut production in November, OPEC crude oil production is still growing.

There are comments that, to reach the November landmark oil production agreement, the organization of Petroleum Exporting Countries (the Organization of the Petroleum Exporting Countries, referred to as: OPEC) Member States spent several months to eliminate suspicions and concerns frequently with each other. Reaching an agreement may not be difficult, but it is another thing to do. This article has a certain reference significance.

Many energy analysts and former OPEC officials said that OPEC has its own production agreement cannot be executed precedent. OPEC agreement will usually indicate the specific reduction requirements for each member of the country. But to ensure that every member of the member states to comply with the provisions of the credit of the credit mechanism is relatively fragile, OPEC does not have an official mechanism to punish the violation of the commitment of the member states.
Sachs Goldman (Goldman Sachs), said the 17 cut since 1982, OPEC members cut the average level of only 60% of the level of commitment. Morgan Stanley (Stanley Morgan) said that during the 2000-2008 period, OPEC production average of 883 thousand barrels per day exceeded the quota.

Last Saturday, 11 non OPEC countries held a meeting in Vienna, OPEC headquarters agreed to a total of 558 thousand barrels per day, to further emphasize the importance of fulfilling the promise. OPEC member countries and non OPEC countries have not announced the details of the country’s production cuts, the time and manner of implementation of the agreement.
Oil traders and analysts say OPEC members often play games on production numbers to protect their own market share or to conceal oil output that is above its quota during the negotiations. Even the production figures are often controversial. OPEC will release two sets of data, one group is the organization to obtain the estimated output from the independent information sources, the other group is a member of the direct report of the number of output.

The lack of transparency has led some industry observers to determine the actual output of OPEC members by monitoring oil tanker loading and pipeline transport. These groups provide data to traders, oil companies, and OPEC members who want to monitor the output of other member countries through the data.
Geneva’s SA Petro-Logistics is such a company, the company has said it through the deployment of information sources in the world to obtain information on the network.
The company founder Conrad Gerber late in 2000 to “the Wall Street Journal (blog, micro-blog)” (The Wall Street Journal) said, if he is to disclose the information source of identity, then they might be beheaded. Gerber says he can’t call them when they’re in the office, because their cell phones are being monitored.
OPEC spokesman didn’t respond to requests for comment on the situation.

in early November, with the increase in raw material costs, the European standard thermoplastic plastics prices show rising trend. The price of ethylene and propylene increased 30 euros / ton, while the styrene monomer reference price rose 40 euros / ton.

The reason is mainly the price of crude oil reached a high in October, in addition to the depreciation of the euro.

The initial goal of producer pricing is higher than that with the rising prices of raw materials is consistent or slightly, but the actual prices of most polymers compare the extent of rising single cost price.

We believe that PTA mainly lies in the main factory changed the strategy, in factories often take to cut production, maintain industry profits, and this year the factory most take as little as possible production, overhaul, but when there is profit from the surface of a large number of hedging, and generate the day the amount of warehouse receipts, the processing fee has been maintained at a low level.

According to statistics, the current PTA processing fee of 500 yuan / ton wandering around, and the better processing fee is market price rose laid the foundation, more to stimulate the enthusiasm of enterprises to start PTA.

Up to now, the domestic PTA operating rate to 72.3% (near to maintain effective production capacity of 46 million 5 thousand tons). But overall, the domestic PTA industry is still excess capacity, eliminate backward production capacity period. Once the PTA processing fees rise, may have to stop the old device when the PTA supply a stirring among the dry bones, increased, while the market price or restricted.

in the factory often taken to cut production, maintain industry profits, and this year the factory most take as little as possible production, overhaul, but from the disk profit when a large number of hedging, while generating huge warehouse, the processing fee has been maintained at a low level.

Nearing the end of 2016, look back at the first half of this year, the overall general chemical products rose, crude oil rebounded sharply, but PTA is the least volatile chemicals, still in the same place.

Fluctuate so small the main logic is to change the attitude of the PTA factory, which between PTA and PX upstream industry evolved into the internal game PTA game between the factory, the old hope to eliminate backward equipment through the processing fee competition, the main purpose is to accelerate the industry reshuffle.

Leave the market in the short and far east Xianglu petrochemical PTA plant, this year in a state of relative balance of supply and demand, supply and demand good in recent years, but the processing fees this year stock market has been in a low level, the end of the two quarter and the three quarter remained at 200-300 yuan / ton low position, but better than the first quarter of two quarter, most remain at the level of 400-500 yuan / ton, compared with the previous years data, processing fees at 600 yuan / ton for most of the factory is a reasonable level.

The reason is difficult to expand the processing fee