day : 10/02/2017 1 results

OPEC Continues To Cut Production: Impact on Industrial Manufacturing

To the dismay of many, OPEC has been keeping pace and beating expectations when it comes to their production cut. The Organization of Petroleum Exporting Countries agreed in November to begin curbing production and scale back output by 1.2 million b/d. Latest data from The International Energy Agency (IEA) showed OPEC crude production fell by 1 million b/d to a total of 32.06m b/d in January. This unexpected but welcomed surprise drove the price of oil higher around the world. As demand ...