Data published by the "OPEC" show more commitment to cut oil production countries
Date: 14/02/2017 09:58
Information / follow-up ..
Data published by the "OPEC" has shown, that the organization has committed more than 90% over / January agreement to cut production, suggesting that oversupply may fade this year.
The monthly report of the Organization of Petroleum Exporting Countries "OPEC", it has reduced oil production by 890.2 thousand barrels per day during the last month, compared with December / December the previous year to reach 32.139 million barrels. While the total size of the total reduction of the producers of the raw material and acceding to the Vienna Agreement (the judge to cut production) approximately 1.146 million barrels a day.
According to the report, the largest percentage reduction came from the "Saudi Arabia, Iraq and the UAE, while increased production volumes in Nigeria, Libya and Iran."
With regard to Russia, "OPEC" organization lowered from the roof of its forecast for oil production in the country during the current year 2017, with 20 thousand barrels a day, compared with expectations in January, to reach 11.03 million barrels per day.
The report noted that oil production in Russia over the past month, fell by 120 thousand barrels per day, up to 11.19 million barrels a day.
With regard to oil demand for 2017, it predicted "OPEC", to grow by 0.22 million barrels per day to reach 95.81 million barrels.
According to the report, expectations of increased oil demand for 2017 improved by 35 thousand barrels per day to 1.19 million barrels a day. And that this is due to the cold climatic conditions is Almtoukah.anthy / 25 m