Breaking News                 Latest News            Usa News                 Latest News

7 Factors to Consider Before Applying into Any University
OPEC has agreed on a higher flow rate. This is not enough for customers and investors: they expected more and expect to see higher prices.

OPEC: states want to increase production by one million barrels

OPEC has agreed on a higher flow rate. This is not enough for customers and investors: they expected more and expect to see higher prices.

OPEC: states want to increase production by one million barrels

The Organisation of Petroleum Exporting Countries (OPEC) has agreed on increased oil production. From July, members of oil industry and or leading oil-producing countries such as Russia will expand production by around one million barrels per day or by one percent of global demand. This was decided by participating States during ir meeting in Vienna and y want to stop increase in oil price of past months.

Important OPEC customers, such as US, China and India, are not enough. Investors and shareholders also expected a significantly higher production. As a result, US oil increased by 3.5 percent to now 67.80 dollars, while price of North Sea petroleum strain Brent rose by around two percent to just under 75 dollars.

The statements made by Suhail al-Masruei, Energy Minister of United Arab Emirates, also provided scepticism. He indicated that it was difficult for some of producing countries to increase funding, which is why it is unclear wher production will actually rise as much as decided. "The decision is challenging for countries that are struggling to maintain ir production levels," said Al-Masruei with a view to US sanctions against Iran as well as domestic political crisis in Venezuela.

According to experts, flow rate is expected to be below one million barrels. The global demand would not be satisfied, which is why price will remain high in future. The decision of cartel, according to Reuters analysts, is above all a compromise between core countries such as Saudi Arabia, on one hand, and cooperating states such as Venezuela and Iran on or.

The 14 OPEC states now want to consult with ten non-OPEC states to formally adopt common line this Saturday. As non-OPEC countries are currently producing less oil than y are likely to have with regard to common funding limit, an expansion will also be negotiated here.

Publish Date : 23 Haziran 2018 Cumartesi 12:02

Breaking News Headlines

Signs that You Could be a Snowboarding Instructor
Signs that You Could be a Snowboarding Instructor
4 Tips to Get the Perfect Romantic Gift for Your Partner
4 Tips to Get the Perfect Romantic Gift for Your Partner
7 exciting benefits of Cryptocurrency
7 exciting benefits of Cryptocurrency
This woman chastises Apple and Google billions of dollars – we Have a large desk
This woman chastises Apple and Google billions of dollars – we Have a large desk
Health Stocks Yielding Healthy Dividends
Health Stocks Yielding Healthy Dividends
Who wield the gavel on Dani Mateo
Who wield the gavel on Dani Mateo
Stopped a narco with 450 kilos of hashish in the car after an accident in Malaga
Stopped a narco with 450 kilos of hashish in the car after an accident in Malaga
The PP accused the PNV of to manufacture an atomic bomb with the new Statute agreed with Bildu
The PP accused the PNV of to manufacture an atomic bomb with the new Statute agreed with Bildu
The associations of students of 26 universities unite to challenge the monarchy
The associations of students of 26 universities unite to challenge the monarchy
The EU is betting on a supercomputer that anticipates natural disasters
The EU is betting on a supercomputer that anticipates natural disasters
The otp requests that are not supported the challenge against Marchena for the ‘whatsapp’ of Cosidó
The otp requests that are not supported the challenge against Marchena for the ‘whatsapp’ of Cosidó
The Government agrees to negotiate with the Basque country and the transfer of the prisons
The Government agrees to negotiate with the Basque country and the transfer of the prisons
Pages
NEWS ARCHIVES