Are you locked "OPEC" a new battle against the American oil shale?
21/03/2017 05:17 | Number of Views: 90 font size: Decrease font Enlarge font
Direction Press / Agencies
Confirms the commitment of members of the "OPEC" countries reporting to a large extent reduce the production agreement, which led to the recovery of oil prices in the market, what enticed shale oil producers to resume their activities again.
A report released by the organization, "OPEC" that Member States have reduced their production, according to secondary sources last February by about 139.500 thousand barrels of oil per day, and decreased production overall organization below the level of 32 million barrels per day, and for the first time since 2015.
The reduced production in the framework of an agreement between the organization "OPEC" and independent producers to cut output to prop up prices by absorbing excess supply glut, and the agreement entered into force earlier this year and will last for 6 months.
And contributed to the agreement in the rise in oil prices in recent months what enticed shale oil producers in the United States to resume their activities, she said, "Baker Hughes" Energy Services said US companies added 14 oil rigs in the week ending March 17 / March, bringing the total number to 631 units, a the highest level since September / September 2015.
An increase in drilling activities in the United States, the famous high its cost, that "OPEC" organization pushing for a return to the strategy that was used in 2014, which was designed to keep production at high levels and pushing prices down and make the US shale oil activities unprofitable.
Members will put it in the "OPEC" countries impasse, since its members revenues will decline after falling prices will affect the budget. Analysts say the shale oil production is "the biggest threat to efforts to achieve price stability in the markets."