OPEC unveils cut oil production, Iraq is committed to the agreement rates 90%

OPEC unveils cut oil production, Iraq is committed to the agreement rates 90%


History of edits:: 2017/5/11


{International: Euphrates News} {cut} OPEC crude oil production last April by about 18.2 thousand barrels per day, compared with the previous March, to 31.732 million barrels per day.

According to a report of the organization it depends Al secondary sources, the major producers committed in April agreement to reduce oil production, in varying proportions, reaching the United Arab Emirates commitment to 23%, Venezuela 17%, Kuwait 4%, Qatar 100%, Angola by 76%, Algeria 84%, Iraq 90%, Ecuador 92%.
However , the African Gabon failed to fulfill its obligations under the Agreement.
Despite the growth of oil production in Saudi Arabia in April, but it abided by the Vienna by 21%, according to the report.
According to secondary sources, Saudi Arabia has increased crude production by 49.2 thousand barrels per day compared to March to reach 9.954 million barrels per day. While Saudi Arabia announced a rise in its crude on a monthly basis by about 46.4 thousand barrels per day to 9.946 million barrels per day.
Although Libya and Nigeria Oafeeta to join the agreement because of the current circumstances and the control of the militants on most wells and oil fields in the two countries, but Libya 's production of black gold fell by 61.6 thousand barrels per day to 550 thousand barrels per day.
By contrast, Nigeria has increased production of crude by 50.8 thousand barrels per day to 1.508 million barrels per day.
The agreement allowed Iran to increase oil production to prevent it from taking into account the export during the application of the Western sanctions, but Tehran 's production fell in April by about 34.7 thousand barrels per day to 3.759 million barrels per day.
It raised "OPEC" in its monthly report of its forecast for the growth of oil supplies from abroad this year to 950 thousand barrels per day from 580 thousand barrels per day in the previous forecast.
The United States deliberately since the beginning of this year , the start of implementation of the agreement to increase the production of oil shale , which frustrated even partially "OPEC" efforts, which touched in its report to this , saying : "US oil and gas companies has already increased its activities in 2017, production is expected to rise US crude at a rapid pace of more than about 600 thousand barrels per day in 2017 ".
The Russian Energy Minister Alexander Novak, earlier, that his country cut crude production in April by 300 thousand barrels per day , which agreed with the share of "OPEC" .anthy

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