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[size=30]OPEC expects to increase oil production and a larger surplus in 2017[/size]
12/09/2016 03:37 | Number of Views: 165
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It raised the Organization of Petroleum Exporting Countries (OPEC) Monday, its forecast for oil supply from outside the organization in 2017, due to expectations of a large surplus next year.
The projections are based on the entry of new fields of production, and drilling to prove the US shale oil companies larger than expected in dealing with crude prices low flexibility.
OPEC said in a monthly report released Monday, the average demand for oil produced by the SCO member states will reach 32.48 million barrels per day in 2017, down from 33.01 million bpd in the previous forecast.
The report said that OPEC itself has maintained production near its highest level in several years in August, where he pumped 33.24 million barrels per day, according to data collected by OPEC from secondary sources decrease of 23 thousand barrels per day over July.
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