Wednesday , October 5 2022

OPEC warns that the number of oil firms will come down in 2019


By 2019, the world economy will be weakened and oil producers will increase productivity. The OPEC has warned that a change in production in next month's meeting will be a complete change.
According to the magazine, OPEC reiterates the fall in production due to concerns over price rise and supply. Such a change could have worsened the relationship between US President Donald Trump. He demanded the exclusion of OPEC.
Global oil consumption rose by 1.29 million barrels a day. The monthly report of the Petroleum Exporting Countries Organization estimates that an average of 1.29 million barrels per day is expected to exceed 1.29 million barrels per day.
The Vienna-based company said it would raise exports to 2.23 million barrels a day and raise 120,000 barrels of oil.
Although the oil market is now in a balanced way, the OPEC report suggests that production will be higher by 2019 than the demand for global oil in the global demand.
"In recent years, oil companies have undergone increasing pressure by reducing the perspectives of global economic growth and the appropriate uncertainty."
OPEC will meet on December 6 to sign the production policy in 2019.

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