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Moscow: Low global oil production to 1.7 million b / d last month
History of edits:: 2017/4/21
{Baghdad} Euphrates News announced that the Russian Ministry of Energy, on Friday, the global decline in oil production over the past month.
He said Russian Energy Minister Alexander Novak, " The size of the reduction of world oil production in March was 1.7 million barrels per day under the agreement between the Organization of the Petroleum Exporting Countries {OPEC} and producers from the outside."
The Secretary General of the Organization of Petroleum Exporting Mohammed Barkindo, said last Wednesday that all oil producers involved in the reduction of production agreement are committed to reducing global stocks to reach the average level in five years and to restore market stability.
He Barkindo, who was speaking in the United Arab Emirates, said that the March data show a better commitment to the agreement by oil producers as compared with February.
OPEC agreed non - members and producers in December to cut production for a period of six months to contribute to raising crude prices to around $ 55 a barrel after two years of low prices.
OPEC will review its policy towards the second half of this year , at a meeting to be held on May 25 Almqubl.anthy
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