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International Energy Agency: OPEC reduced production by 137%

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rocky
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International Energy Agency: OPEC reduced production by 137%

Post by rocky on Tue Feb 13, 2018 6:25 am

International Energy Agency: OPEC reduced production by 137%






2018/02/13 12:40


(Encyclopedia of this day , news | News Iraq ) -
Economy News _ Baghdad


The International Energy Agency (IEA) said on Tuesday it had raised its forecast for world oil demand growth to 1.4 million barrels per day this year.

The agency confirmed that demand for oil grew 1.6 million barrels per day in 2017, according to "Reuters."

The agency forecast non-Opec supply growth beyond demand in 2018, led by the United States.

The International Energy Agency noted that the oil reserves of the developed countries more than 52 million barrels.

OPEC cut production in January by 1.61 million bpd.

OPEC thus reduced production by 137%.

Russia also cut oil production in January by 270,000 barrels per day, the agency said.









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