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.

Join the forum, it's quick and easy

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

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    OPEC output drops to 11-month low

    Rocky
    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 277102
    Join date : 2012-12-21
    • Post n°1

    OPEC output drops to 11-month low Empty OPEC output drops to 11-month low

    Post by Rocky Thu 05 Apr 2018, 2:49 am

    OPEC output drops to 11-month low

    OPEC output drops to 11-month low 7130
    OPEC output drops to 11-month low Text OPEC output drops to 11-month low Html OPEC output drops to 11-month low Print
    OPEC output drops to 11-month low Arrow Arab and international
    Economy News _ Baghdad
    A survey by the Organization of the Petroleum Exporting Countries (OPEC) said Thursday that production fell to an 11-month low in March as Angola's exports fell, delays in Libya and further declines in Venezuelan production, bringing the commitment to a new supply-price cut.
    The Organization of the Petroleum Exporting Countries (OPEC) pumped 32.19 million bpd last month, down 90,000 bpd from February, and the total figure for production last month was the lowest since April 2017, the Reuters news agency said.
    OPEC's output fell 1.2 million bpd as part of an agreement with Russia and other non-OPEC producers to dispose of the supply gap. The deal began in January 2017 and continues until the end of 2018.
    The survey found that the commitment of producers to the agreement increased to 159% of the agreed reductions compared to 154% in February, and there is no indication that other producers raise production to take advantage of higher prices or offset the decline in Venezuela's production.
    Oil prices hit $ 71 a barrel this year for the first time since 2014, and crude traded above $ 67 a barrel today, but OPEC says supply constraints should be kept to make sure that the bottlenecks that have been growing since 2014 are over. 
     
    In March, the biggest supply cut came from Angola, which exported 48 shipments, the lowest of the same month in 2017, and natural declines in some fields are pushing production.
    Production in Libya, which is still unstable, has fallen due to stops in the elephant and sparrow fields, in a setback to the partial recovery of 2018. 
     
    Venezuela's production continued to decline as the oil industry suffered from a lack of funding due to the economic crisis and production fell to 1.56 million bpd In March according to the survey, a new long-term low.


    • Back to top
      Current date/time is Sat 07 Sep 2024, 6:28 pm