Tag Archives: Oil Supply

In 2017. non-OPEC oil supply is projected to grow by 0.84 million barrels per day.

The today OPEC meeting is to focus on the extension of the November 2016 agreement on cutting oil supply.

OPEC has been urging other producers to join the supply pact.

Global oil supply fell by 140.000 bpd in April to 96.17 million bpd.

There could be more cuts if there are other non-OPEC countries that will join the agreement.

The Organization of the Petroleum Exporting Countries (OPEC)meets this month to discuss oil supply policy.

Tehran agreed to curb its nuclear programme in exchange for lifting of most international sanctions imposed on the country.

The focus is now to re balance the market.

Analysts and experts are now mostly predicting that oil prices will remain below $60 this year.

Iraq is committed to cut national crude oil production in line with OPEC'.s agreement .