He confirmed the chancellor ‘s financial Prime Council of Ministers, the appearance of Mohammed Saleh, Sunday, that the extension of theagreement of OPEC for a period of nine months will reflect positively on the price of oil .
Said Saleh in an interview for “ Economy News “ , the “ extension of the agreement of OPEC for a period of nine months , the other will have theeffects of positive to address the display surplus on the period short .”
He added that “ the agreement first OPEC , the reduction of one dollar from the production of oil will lead to the lifting of oil crude around 10 dollarsand we hope as well as in the months nine coming .”
And agreed countries members in the Organization ” OPEC ” and outside on 26 May 2017 to extend the agreement to reduce production for 9months additional until March / March 2018 , in a move designed to eliminate the glut of supply in the markets of oil .
The Agency for International Energy, Thursday 25 May 2017 The countries members of the Organization ” OPEC ” gained during the two quarters the past 75 million dollars a day in addition, thanks to the recovery of the prices of oil in the markets world .
She added that the ” agreement OPEC returned to Saudi Arabia, the largest producer of oil in the ” OPEC ” , during the period itself around 12.3million dollars a day , followed in ranked third, Iraq, the proceeds of an additional estimated at about 10.3 million dollars a day .”