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[size=37]Economist: OPEC agreement is not enough to reduce the oil supply[/size]
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BAGHDAD Journal
Said economist Majid picture, Tuesday, OPEC agreement is not enough to reduce the oil supply in the world, between the excess supply of about 3 million barrels of approx.
Suri said, "The excess supply of oil amounted to about 3 million barrels, making the OPEC agreement to cut output is inadequate," noting that "supply and demand is not the only reason for the fluctuation of oil prices."
The expert added, "The rise in oil prices to $ 55 per barrel will cover a small percentage of the budget deficit."
It is said that the Organization of oil-producing countries (OPEC) confirmed, earlier, that producers outside the Organization refused to pledge to freeze crude oil production levels and its members in September Almadi.anthy pledged 3
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