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Russia begin to reduce oil production
3/1/2017 0:00
[rtl]Baghdad / follow - up to the morning in
implementation of the agreement between OPEC and the oil states of the beyond, Russia has begun on the first of January 2017 to reduce oil production, as part of aglobal agreement to cut production to absorb the excess supply in order to raise sagging prices.
And suffer the global energy market oversupplied more than two years, has had a major impact on crude prices, as prices came down to less than half its level in the summer of 2014, when it was above $ 100 a barrel.
In 2016 prices extended their losses to the extent that the combination "Brent" Global fell at the end of January, to its lowest level in three years, came out at $ 27 a barrel, prompting oil - producing countries to discuss the issue of reducing production to support prices.
Attempts producing countries to unify the position on production cuts have not yet been successful, but last November the end, when members of the "OPEC" countries have agreed to reduce production by 1.2 million barrels per day, for a total size of the organization producing 32.5 million barrels a day.
It agreed that the producing countries from outside the organization to cut production by 600 thousand barrels per day, of which 300 thousand barrels as stipulated Stqlsa Russia, the largest oil producer in the world.
In a sign of Russia 's commitment to the agreement, the Ministry of Russian energy working group to follow up the implementation of the oil operating in Russia to agree companies.
He said Russian Energy Minister Alexander Novak that Russian companies would cut production gradually to reach at the end of the first quarter of this year , 300 thousand barrels per day, adding that the increase in prices of petroleum products in Russia will not exceed the inflation rate in the country.
Novak predicted that oil prices will range in the next year between 55 and 60 dollars a barrel. While 29 analysts predicted an economic expert and mix "Brent" Global decades will be an average of $ 56.90 a barrel in the year 2017.[/rtl]
[rtl]http://www.alsabaah.iq/ArticleShow.aspx?ID=129150[/rtl]
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