OPEC may cut oil production further

As the Offshore Panorama comes reporting and monitoring, the Organization of Petroleum producing countries (Opec) closed a deal at the end of 2016, for the reduced production surplus of oil with the aim of enhancing the "black gold".

The agreement, which has been in force since 1 January 2017 appears to be working, according to report released by the Organization itself, at the beginning of February, in which stresses have hit 90% of target in oil production that had been agreed.

However, according to the site Exame.com, OPEC may extend even more oil production, stocks don't fall to the desired level. A new Organization meeting is scheduled for may. At the time, policy issues will be discussed the offer with producers of inside and outside Opec.

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