OPEC expects to increase oil production from larger competitors and a surplus in 2017

Free Event / S.o ..
It raised the Organization of Petroleum Exporting Countries, OPEC, on Tuesday, its forecast for oil supply from outside the organization in 2017 with the entry of new fields of production and prove prospecting for US shale oil companies greater flexibility than expected in dealing with crude prices lower, suggesting a large surplus in the market next year. OPEC said in a monthly report released Monday that the average demand for oil produced by the SCO member states will reach 32.48 million barrels per day in 2017, down from 33.01 million bpd in the previous forecast. The report said that OPEC itself has kept production close to its highest level in several years in August, where he pumped 33.24 million barrels per day, according to data collected by OPEC from secondary sources decrease of 23 thousand barrels per day from July.