The international energy Agency (IEA) raised its forecast for growth of global oil demand in 2016 by 200 thousand barrels a day to 95.8 million barrels. Such data are cited by TASS with reference to the March report of the Agency.
The document also says that the production of countries outside OPEC, will be reduced compared to 2015 year by 750 thousand barrels a day to 57 million barrels.
While production in OPEC countries in February decreased by 90 thousand barrels per day and amounted to $ 32,61 million barrels.
8 March, Business Insider reported that Russia aimed to create a new cartel, under the control of which may be nearly three-quarters of world production of oil.
February 16, Russia and several OPEC members (Saudi Arabia, Qatar, and Venezuela) agreed to freeze oil production in order to support the quotation, subsided for a year and a half by 70 percent. Also about the intention to join the agreement said Iraq and Kuwait, and on 20 February, is now Nigeria.
Russia itself has increased in February oil production by 5.3 percent compared to the same period last year. Total for the month was produced by 43.1 million tons. Deputy Prime Minister Arkady Dvorkovich explained that oil production in Russia will grow, despite the agreement on freezing of production. “The agreement (with the OPEC countries — approx. “The tape.ru”) fixes the production at the level of January 2016. This level is higher than in 2015. So, in 2016 compared to 2015, despite the agreement, the us production will increase and not decrease. This is arithmetic. Forecast level of 1.5 percent,” said the official.