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OPEC expecting other producers to cut oil output

Oil&Gas Materials 15 March 2016 13:56 (UTC +04:00)
Non-OPEC countries’ oil output will be cut in 2016 by 70,000 barrels per day to 56.39 million barrels per day.
OPEC expecting other producers to cut oil output

Baku, Azerbaijan, March 15

By Aygun Badalova - Trend:

Non-OPEC countries' oil output will be cut in 2016 by 70,000 barrels per day to 56.39 million barrels per day, according to an OPEC monthly oil market report.

The non-OPEC countries produced 57.09 million barrels per day in 2015.

The lowest oil output level (56.01 million barrels per day) by non-OPEC countries is expected for the Q3, 2016, while the highest level of 56.94 million barrels per day is expected for the Q1, 2016.

The OPEC and non-OPEC countries can hold a meeting in mid-April in Doha, Qatar, to discuss the possibility of freezing oil output, according to media reports.

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