• Libya and Nigeria increased the production of oil contrary to the agreement on the freezing of

  • Libya and Nigeria, which are members of Organization of countries-exporters of oil (OPEC) in October has increased production by 800 thousand barrels per day. It is reported Bloomberg.

    The Agency notes that oil production in Libya increased to 466 thousand barrels per day — a maximum of two years. Production in Nigeria has increased to 2.1 million barrels per day.

    "OPEC will find it increasingly difficult to reach the goal (to stabilize the oil market by freezing the level of production approx. "Of the tape.ru"), while Libya and Nigeria continue to increase production. Kartel just talks about cutting back production, but until we see growth," stated UBS analyst Taunovo Giovanni (Giovanni Staunovo).

    28 October OPEC representatives at the meeting failed to reach a final solution oil quotas.

    A day earlier, Russia notified the Gulf countries, OPEC, that will not cut oil production. Moscow said it was willing to freeze production at current levels.

    In late September, OPEC agreed to freeze oil prices. Cartel members set the production ceiling at the level of 32.5 million barrels a day. The final agreement should be signed at the meeting in November.


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