OPEC expects oil supply from producers outside the increase in 2017

12 September 2016 03:36 pm

Live said the Organization of petroleum exporting countries OPEC Monday it expects an increase in oil supply from producers outside in 2017 with shale oil companies for more flexibility in an environment of low crude prices.

OPEC said in its monthly report published on its website that the OPEC production stabilised during last August near its highest in several years with age of 33.24 million barrels a day.

The report predicted that average demand for the production of their members in 2017 about 32.48 million barrels compared with the previous forecast 33.01 million barrels with intense competition for market share.