OPEC cuts reflect high in petroleum

After the International Energy Agency (IEA) report in your report that the Organization of petroleum exporting countries (Opec) is serving 90% of your goal in commodity production, as the Panorama reported on November 10 Offshore (http://migre.me/w1YOy), the oil and gas market reacted positively.

On the New York Mercantile Exchange (Nymex), crude oil WTI for March was at 1.02% high, at $53.54 a barrel, while Brent crude for April rose 1.20%, to $56.30 a barrel on the Ice platform in London. According to the IEA, production in January was 32,060,000 barrels per day, 1 million barrels less than in December 2016.

In addition, the Agency announced on Friday, February 10, that oil demand in 2017 will be larger than expected and that the first cut made by the members of the cartel, as well as other allies is one of the most important in the history of initiatives of the organization.


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