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Forecasts of an increase in oil exports by 7.5 million barrels
26/9/2017 12:00 am [rtl](Reuters) - Oil exports from the Middle East to the Asia-Pacific region are expected to rise by 7.5 million bpd between 2016 and 2040 to boost growth in emerging economies led by India and China, the Organization of the Petroleum Exporting Countries (OPEC) said on Monday . "Exports will reach 22 million bpd from 14.5 million barrels per day during that period," OPEC Secretary-General Mohamed Barkindo said. After the success of the agreement to reduce the crude oil of the Organization of the Petroleum Exporting Countries from within the Organization with the outside countries to reduce global stocks and the commitment of many countries to reduce Iraq, Iran expressed its opinion on the agreement as "acceptable" but needs some changes and oblige Nigeria and Libya to reduce their output under the agreement, From the statements of the two sources . While Libya's production is around 900,000 barrels per day (bpd), down from 1 million barrels a day in the past months, a Libyan source said. On the other hand, the Nigerian oil minister said his country is pumping less supplies than the agreed production ceiling . Despite the success of the commitment of countries to the agreement (OPEC) to reduce oil production, the parties found the need to extend the period set for him (the agreement), said Kuwaiti Oil Minister Essam al-Marzouq, who chaired the meeting of the Joint Ministerial Control Committee last Friday: "The constraints of production help reduce stocks global crude to the five - year average, a level target (OPEC). on the other hand, Russian energy Minister Alexander Novak said: "it is not expected to take before January a decision on the extension of reduced production after the end of March, although other ministers as likely to An optimal decision to take before the end of this year . " OPEC member states have expressed their commitment to the actual reduction and access to high and effective levels, including Iraq, Kuwait, Saudi Arabia and the United Arab Emirates, which recently announced a level of 100 percent reduction in production . Oil prices were under pressure from the strength of the dollar, but crude kept most of its gains from previous sessions after top producers said at a meeting in Vienna: The market is on track to restore balance. Brent crude for November delivery fell 4 cents to $ 56.82 a barrel, nearing its highest level since March, and US crude for delivery in November dipped to $ 50.56 a barrel, but still well short of a four-month high, While the basket of (OPEC) containing 14 types of crude, $ 54.84 a barrel. Members of the Organization of the Petroleum Exporting Countries (OPEC), Russia and a number of oil producers from outside have agreed to cut supplies by 1.8 million bpd since the beginning of 2017, helping oil prices rise by about 15 percent in the last three months. [/rtl] [rtl][You must be registered and logged in to see this link.] [/rtl] |
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