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[size=36][size=33]OPEC expects lower oil production in 2017[/size][/size]
Ali Abdul Salman 34[ltr] 01/19/2017[/ltr]
Ali Abdul Salman 34[ltr] 01/19/2017[/ltr]
OPEC said that the surplus oil supply will fall in 2017 with low production organization and the emergence of initial signs of independent producers commitment agreement to cut production.
In a report published by the Organization of Petroleum Exporting Countries (OPEC), on Wednesday, he said that "the countries of the organization, with the exception of Indonesia, in December produced 33.085 million barrels per day, a decrease of 221 thousand barrels per day from November production."
He scored OPEC production, last November, its highest level since 2008.
The OPEC lowered anticipated for the production of independent producers in 2017, so by pledges from Russia and other countries outside OPEC to join the organization to restrict production.
In this month's report, OPEC expects supply from outside the Organization by 120 thousand barrels per day in 2017, while the Organization in its report last month predicted supply growth by 300 thousand barrels per day.
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