OPEC is scared and reduced the supply
January 26th, 2010
According to the report of August of the Global Training center for Energia (CGES), the Organization of the Exporting Petroleum Countries will reduce the production of crude drastically. The objective is to restrain the reduction of the prices that comes more and more moving away from its historical maximum of 140.73 dollars by barrel, reached the 2 of past July.
First in realising this measurement he has been nothing less than the producing and exporting major of crude of the world, Saudi Arabia. The kings of the crude one, whom recently its production was increasing until the 9.7 million daily barrels, now are giving samples of which the increase has finished.
The declivity of the prices
in the last weeks had to the fears in the market to a recession in the world-wide economy and to the backward movement of the oil demand. This Friday the number arrived at los107,88 dollars by barrel, three dollars less than the previous day.
The CGES anticipates that the petroleum will continue lowering, because that considers that OPEC not yet is so annoying. Nevertheless, it indicates that the organization will act if the crude one falls below the 100 dollars.
The training center foretells that the countries that do not comprise of the organization will increase in 0,5 million daily barrels the production in the next months, while OPEC anticipates an ascent of only 1.2 million.