Going against the determination carried out by the cartel members themselves, OPEC had an increase in oil production in January of this year that totaled 32.4 million barrels per day, an elevation of 100,000 bpd the most before December. OPEC's production grew in January thanks to exploration increases in Nigeria and Saudi Arabia.
Despite the high, the oil cuts agreement to reduce the offer increased by 138%, before the 137% of December. The cuts that have been maintained by the organization have driven the prices of the barrels, so much so that last week, the value reached the plateau of US $ $71 per barrel for the first time since 2014.
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