OPEC "Production Decline 2 Million Barrel"

THOSE, WEDNESDAY - Organization countries The Oil (OPEC) today, Wednesday (17/12), will announce a decrease in the cartel's daily production. According to OPEC officials Tuesday (16/12), production will be trimmed around two million barrel per day,

"Supply is still little more than the demand. Backup also still more than normal. To bring in the balance of which will be conducted in a decrease of around two million barrel," said Saudi Arabian Petroleum Minister Ali al-Nuaimi in Oran right to attend the meeting the level of OPEC ministers on Wednesday.

OPEC also requested the countries of non-OPEC to reduce production to 600,000 barrel per day. The ministers from OPEC has predicted production penurunanan agree to continue pushing the price of the exchange, recorded a sharp decrease since July because goyahnya global economy and declining demand for energy.Russia asks OPEC countries and oil producers are not OPEC members to help stabilize the market. But not yet clear if the decline of two million barrels as it delivered Nuaimi, including whether the decline in production by non-OPEC, or will be added, which will be a total decrease of 2.6 million barrel per day.

OPEC daily production quota is currently 27.3 million barrel per day. Secretary General of OPEC, Abdalla Salem El-Badri said Tuesday night, the cartel will be happy to see countries not members of OPEC also reduce their oil production between 500,000 to 600,000 barrel per day.
Some OPEC member countries is still very dependent on the export of oil, particularly Nigeria, Ecuador and Venezuela, who feel beaten in the economy because oil prices have fallen more than 70 percent from a record high above 147 U.S. dollars in July.

Meanwhile, OPEC president Chakib Khelil said the producer is "very pessimistic about the request" and that is where the cartel agreed to support the decline in production.

OPEC, which produces about 40 percent of global oil production, will also be working hard with crude oil reserves are high, which is owned by the consumer countries, where, according to Khelil currently amount to 57 days supply. "During the last five years the average is 52 days, so we have a five-day excess supply," he said. Tuesday OPEC depict excess supply as "a real challenge" for the oil market. "The development is not balanced in the oil market during the quarter baberapa future will be made more overhang in the high inventory, if the global recession worsened," he warned.