Economy 52,861 Posted June 22, 2018 Share Posted June 22, 2018 https://www.bnnbloomberg.ca/oil-advances-as-opec-reaches-agreement-to-increase-supplies-1.1097187 OPEC has met recently and decided that the supply and demand balance in the market is sufficiently tight and storage levels dropped enough to warrant a production increase OPEC has agreee on a 1 Million production increase on paper devided by its members However because some members at the moment don't have the ability to increase their production and increase to their raised allowed quota such as Iran and Venezuela, the real Increase will be more like 700,000 barrels a day or 70% of what is agreed on paper Saudi Arabia and Russia (who for now is working with OPEC) will make the bulk of the increase Link to post Share on other sites More sharing options...
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