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[size=36][size=33]Emirates expects more commitment agreement to reduce oil production[/size][/size]
Ali Abdul Salman 35[ltr] 02/13/2017[/ltr]
Ali Abdul Salman 35[ltr] 02/13/2017[/ltr]
Energy Minister of the UAE, Suhail Al Mazroui said that the commitment to reduce the agreement concluded between the organization of production, "OPEC" and independent producers level was high in January.
He said, he told reporters on Sunday February 12: "The level of commitment is high, and we expect to see more commitment in the coming months."
According to the data used by the "OPEC" organization to monitor supplies, briefed by "Reuters" agency, it has implemented the "OPEC" More than 90% of the production cuts in January. In a strong start to the implementation of the first cut of production in eight years.
For its part, the International Energy Agency said in a report published recently, the level of commitment of Russia last month amounted to 86%.
Under the agreement, which aims to reduce the oversupply on the "OPEC" to reduce their production by about 1.2 million barrels a day, starting from January, while reducing the independent producers, including Russia, their production by 600 thousand barrels per day.
In a related development, announced the Russian energy minister, Alexander Novak, that his country will consider, in April / May or April / May, the decision to extend the agreement to reduce production of "OPEC" and independent producers agreement
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