According to Reuters, Russian sources say the Russian side is ready to reshape the oil market with the Organization of Petroleum Exporting Countries (OPEC). Moscow agreed with the multilateral proposal made by Saudi Arabia, the leader of OPEC, to meet the increasing production of Nigeria and Libya.
| Sodium selenite |
With the Russian OPEC Affairs Consultative Officer, he said that he welcomed any achievements to meet the challenge to balance the rise of the oil market. Russia’s primary responsibility for balancing the oil market as its own and will continue to work with other oil-producing countries. Recently, a Saudi energy industry news that the hope that through other supply adjustment methods to coordinate the increase in production in Libya and Nigeria, and stressed that this need to work with other oil-producing countries.
Libya and Nigeria in recent weeks, the output has been the highest over the years, leading to market regulation delay. Six miners from OPEC and non OPEC member states, including Saudi Arabia and Russia, met in St. Petersburg, Russia, on July 24 to discuss the reduction and future plans.
| Sodium Molybdate |
Neil Atkinson, head of the International Energy Agency’s (IEA) oil market and industry sector, said in an interview that crude oil inventories would fall in the second half of 2017 due to OPEC production and support oil prices. However, the executives believe that oil prices will not rise too much, because the rise will only further encourage shale oil supply.
| http://www.lubonchem.com/ |