Ali Abdul Salman 32[ltr] 02/11/2017[/ltr]
And it works OPEC to cut crude output by 1.2 million barrels per day with effect from the first of January to boost oil prices and the reduction of oversupply.
And shrunk the supply of the eleven members of OPEC who are committed to a targeted production levels under the agreement to 29.921 million barrels per day in January , according to the median of six secondary sources used by OPEC to control production estimates and seen by Reuters.
OPEC accounts indicate that it represents a commitment by 92 percent , a level that exceeds the expectations of many analysts.
The source described the OPEC commitment data yet as "encouraging."
Another source said OPEC "This (commitment) is the highest level in the history of OPEC."
Oil prices rose on Friday above $ 56 a barrel , with support from a report issued by the International Energy Agency - which is a secondary sources used by the OPEC - which she said that the initial level of commitment to OPEC stood at 90 per cent.
And exceed OPEC 's estimates of the proportion of commitment, amounting to 92 percent the level of the organization 's commitment at the beginning of the previous implementation of the agreement on the reduction of production in 2009, which amounted to 60 percent and then strengthen OPEC data indicators that the high level of commitment.
However , the producers eleven independents who joined the production agreement this fate did not reduce their commitment to reaching the level of cuts they have pledged only 40 percent in January , according to two sources in OPEC Astnda said to the accounts of the Organization adopted the International Energy Agency data.
This is due to the low level of compliance by independent producers to agree with OPEC until Friday , partly because of the gradual implementation of the agreement by Russia 's largest independent producer to cooperate with OPEC.
It is scheduled to publish its assessment of OPEC 's first production January , based on secondary sources in its monthly oil market report on Monday. OPEC said that the sources of the data may be modified before it is published in the report.
The organization used two sets of data to monitor production and two data provided by each state and those revealed by secondary sources , which include media sector concerned. The reason for this is old disagreements regarding the quantities actually injected by each state.
And based on production cuts that OPEC agreed last year to levels estimated by secondary sources.
The other five and secondary sources , which are used by OPEC and Kalta Platts and Argus for pricing oil, US Energy Information Administration and the Foundation Advisory Cambridge Energy Research Associates (CERA) and newsletter Petroleum Intelligence Weekly.