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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: Oil surplus fell to 74 million barrels in 5 years

rocky
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 OPEC: Oil surplus fell to 74 million barrels in 5 years Empty OPEC: Oil surplus fell to 74 million barrels in 5 years

Post by rocky Wed 21 Feb 2018, 5:52 am

[size=30]OPEC: Oil surplus fell to 74 million barrels in 5 years[/size]
21/02/2018 01:02 | Number of readings:
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[rtl]Trend Press / Agencies[/rtl]
 
[rtl]A recent report said that the OECD oil stocks fell during the month of January to 74 million barrels over the average of 5 years .[/rtl]
 
[rtl]"The surplus of oil stocks has fallen significantly over the past year to 74 million barrels over the five-year average in January, supported by a number of reasons, including the OPEC-led cut-off agreement," OPEC's head of research, Ayed al-Qahtani, said on Wednesday .[/rtl]
 
[rtl]At the end of last November, OPEC members reached an agreement with non-OPEC producers, led by Russia, to agree to extend the supply of oil by 1.8 million bpd by the end of 2018 .[/rtl]
 
[rtl]Oil prices rose by the end of the day, with Nymex crude gaining 0.1% and closing at $ 61.90 per barrel .[/rtl]
 
[rtl]Oil stocks in OECD countries, which were 340 million barrels above the five-year average in January 2017, fell to 74 million barrels above that average last month, Qahtani said .[/rtl]
 
[rtl]The agency said that the Organization "OPEC" aimed at reducing the stocks to an average of five years, while Saudi Arabia indicated the possibility of modifying that target .[/rtl]




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