According to data released by Organisations Data Initiative (JODI), oil production of Saudi Arabia fell to 9.748 million barrels per day (bpd) in January 2017. As the decrease in oil production agreed by the Organization of the Petroleum Exported (OPEC), Saudi export of "black gold" also fell.
The result of the production decline was expected, as well as the decline in exports. This is because, as according to Panorama Offshore has been following and heralding (http://migre.me/whd2K), Saudi Arabia has reduced its oil prices to increase exports to delivery only in April.
Vale monitor to see if the strategies, both from Saudi Arabia, one of the largest oil producers in the world, as OPEC will give the results expected by all: the valuation of oil.
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