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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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Director of the Energy Agency: the proportion of OPEC's commitment to the oil agreement 86%

rocky
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 Director of the Energy Agency: the proportion of OPEC's commitment to the oil agreement 86% Empty Director of the Energy Agency: the proportion of OPEC's commitment to the oil agreement 86%

Post by rocky Tue Oct 17, 2017 4:23 am

[size=30]Director of the Energy Agency: the proportion of OPEC's commitment to the oil agreement 86%[/size]
17/10/2017 11:10 | Number of readings: 1
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[rtl]Trend Press / Agencies[/rtl]
 
[rtl]"The commitment of the Organization of the Petroleum Exporting Countries (OPEC) to its commitments to reduce oil production is about 86 percent," said IATA Executive Director Fatih Birol.[/rtl]
[rtl]"Their commitment is about 86 percent higher than it was in the past," Perol said on the sidelines of a world forum in Seoul. "It is up to them whether they will continue this plan in November or not.[/rtl]
[rtl]"If they do, next year we may see markets regain their balance, while we still see a large amount of stock in the market above historical averages."[/rtl]
[rtl]OPEC and other producers, including Russia, have agreed to cut output by 1.8 million barrels per day (bpd) until next March to drain surplus supply and support prices.[/rtl]
[rtl]Asked about the conflict in Iraq between the government and the Kurds and the US decision not to ratify its nuclear deal with Iran, Perol said it was too early to assess the impact of those geopolitical risks on oil markets.[/rtl]
[rtl]"It is too early to say how these geopolitical developments will continue and determine how they affect oil prices," said Perol.[/rtl]
[rtl]"These issues remind us that oil and geopolitical conditions are very interrelated and will remain so, so ... oil security remains vital for all countries," he said.[/rtl]
 

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