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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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    OPEC confirms high oil prices strongly in 2017

    Rocky
    Rocky
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    OPEC confirms high oil prices strongly in 2017 Empty OPEC confirms high oil prices strongly in 2017

    Post by Rocky Tue 02 Jan 2018, 1:36 am

    OPEC confirms high oil prices strongly in 2017 -1
    OPEC confirms high oil prices strongly in 2017


     Weina / Reuters 

    A report by the Organization of the Petroleum Exporting Countries (OPEC), the high oil prices strongly during the 2017 trading, to continue their gains for the second year in a row.
    According to the report of the Organization of the Petroleum Exporting Countries (OPEC), which was published today (December 30, 2017), the price of Brent crude in 2017 rose by 17% and by 5.2% in December, and increased US crude by 12.5% ​​in 2017. In the last 2017 sessions, Brent crude for February delivery rose 1.07%, or 71 cents, to $ 66.87 a barrel. Oil markets benefited mainly from strong demand and OPEC efforts to rebalance the markets by cutting production in cooperation with independent producers from outside . Observers expect that oil gains will continue in the new year 2018, as the world supply shrinks The OPEC members and independent producers led by Russia began in early 2017, reducing production by 1.8 million barrels per day for six months, and then was extended until the end of March, 2018.
    The Organization of the Petroleum Exporting Countries (OPEC) agreed on November 30 to extend oil production cuts by an additional 9 months ending in December 2018, amid moves by OPEC and independent producers to cut oil stocks. 
    In 2018, OPEC expects oil demand to rise by 1.51 million bpd, while the International Energy Agency (IEA) expects supply to rise by 1.6 million bpd over the same period. 
    Crude oil prices suffered a sharp decline in 2014 and 2015, with prices reaching $ 27 a barrel in January, due to the global supply of crude.


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