Opec, for the first time since 2001, has reached an agreement with the other Countries producers of petroleum that do not adhere to the cartel, including the Russia, to reduce the production of crude oil. The agreement was reached at the summit held on Saturday in Vienna after nearly a year of discussions inside to outside of the Opec. The historic agreement, according to Reuters, expected to produce 562mila barrels per day less. And comes after last week the organization of the major producers has reached an agreement for the reduction of approximately 1.2 million barrels per day of output, at an altitude of 32.5 million barrels. The Russia andSaudi Arabia they have worked to get to a square, while l'Iran it is the opposite and has managed to get to increase your export to recoup the years of sanctions international. From the announcement of the cut, on the 30th of November, the reference price of the Brent is rose of about 15% to around 55 dollars per barrel.
"From the non-oecd Countries comes the largest contribution we have ever seen," he commented with Reuters Gary Ross, founder of a specialist consultancy Pira Energy, according to which Russia should restrict the output in line with its commitment of 300,000 barrels per day, and the deal could bring the price of oil up to $ 60 per barrel. The expert, however, is not optimistic about the respect of the agreement: "it Tends to be high in the initial stages, when all the beneficiaries of the higher prices, but then the compliance will decrease", is his prediction. The producing countries are, in fact, were heavily damaged by the decrease of the revenues, while the oil industry has had to cut the investments due to low prices. By June of 2014, the price of crude has halved, reaching as low at under 30 dollars.
The minister of energy of the Russian Alexander Novak prior to the agreement had emphasized that a similar agreement had already failed in April. "But I’m sure that today we will be able to overcome the difficulties and reach a historic agreement," he added. The decision is "important for our countries, for the oil industry and for the global economy as a whole", said the minister of Energy of Qatar, Mohammed al-Sada, who is currently the president of Opec.
