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SUPPLY+countries have to go a bit more oil out of the ground after a drop in production

Oliekartel OPEC and other oil-producing countries, united in the OPEC+, have it on Wednesday reached an agreement on an easing of the drop in production of the

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SUPPLY+countries have to go a bit more oil out of the ground after a drop in production

Oliekartel OPEC and other oil-producing countries, united in the OPEC+, have it on Wednesday reached an agreement on an easing of the drop in production of the raw material. That is, the Saudi Energy minister Abdulaziz bin Salman on Wednesday announced. In april, there was a production cut by the olielanden, due to the evaporated demand for raw materials due to the coronacrisis.

at present, the drop in production at 9.6 million barrels per day, or about 10 per cent of the total oil production. This drop in production came in mid-april and will be concluded, as the price of oil had collapsed due to a combination of a lack of demand at a great price. The oliekraan in turn wanted to give the states back what is fitting. The decision was not an easy ride was taken, it took several weeks before the nations came to an agreement, after a dispute over the allocation of the brake output.

In Wednesday's agreement, the drop in production has been liberalized to 8,54 million oil barrels per day in August and september, and it will have to be reduced to 7.7 million in december. The reason for it is because of the oliekraan is a growing demand for the raw material, after a significant decline in the second quarter, the coronacrisis.

as for The OPEC countries, expected next year, a good recovery after a bad year for the oil-producing countries. OPEC expects that oil demand in the coming years to around seven million barrels per day higher than it was this year. The oliekartel put down a few notes on prediction: this is only true if there are no new coronagolf, or that the trade war between China and the United States of america weather strikes.

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