OPEC expects oil market stability in 2017[/ltr]
[ltr][rtl]History[/rtl] of [rtl]edits:: 2017/1/17 12:35 • 19 visits readable[/rtl][/ltr]
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"OPEC" organization predicted the stability of the oil market this year, at a time when Venezuela said that seek to increase prices, it hopes that its basket of crude rises to $ 70 a barrel in the coming months.
At a press conference the Secretary General of the Organization "OPEC" collection, Mohammed Barkindo, and Venezuelan President, Nicolas Maduro, in Caracas after a meeting between them is the second in two months, Barkindo said: "We are still optimistic, Mr. President, that the full implementation in time for this historic agreement between us and [producers] are not members of OPEC will improve the position of our economies dramatically in 2017 ".
He continued: "As you will return the stability of the oil market, which has eluded for about three years, what was in the interest of producers and consumers and the global economy."
Under the agreement, which was reached in late 2016 will reduce the "OPEC", Russia, and other producers, non-OPEC oil their supplies by about 1.8 million barrels a day for six months initially.
He said Maduro, who sent officials around the world over the past two years to rally support for production cuts, he hoped that the agreement will help to raise the basket of Venezuelan crude to $ 60 a barrel in the first half of the year 2017 and to $ 70 later this year.
Venezuela's oil was trading at $ 44.82 a barrel last week compared with an average price of $ 35.15 a barrel in 2016 and Venezuela among the most affected by the drop in crude prices.
Barkindo added that Venezuela will play a pivotal role in the new Joint Commission between the "OPEC" and independent producers concerned and production monitoring.