It will remain at 24.8 million barrels per day (BPD), although according to OPEC’s own analysts recognize, the actual pumping is about 26.2 mbd. Iran, Iraq, Venezuela and Ecuador showed its opposition. The conflict in Libya, in addition to dividing members for political reasons, affects the oil market and press upward the price of a barrel of crude. OPEC has closed its first meeting of this year without achieving an agreement to increase its oil production, which remains at 24.8 million barrels per day (BPD), as confirmed by the Secretary-General of the Organization, Abdallah Salem El Badri, in Vienna. With this decision, the official production remains unchanged against actual pumping of about 26.2 mbd, according to OPEC’s own analysts recognize. It Iran, Iraq, Venezuela and Ecuador were opposed during the meeting to open the spigots, while a group led by the countries of the Persian Gulf, wanted to offer more crude for cheaper prices. Some believed that it should have a increase of production. Other dndieron that we had to take more time to analyze the situation, summarized El Badri to explain the divergent positions of the twelve members of the OPEC. You may wish to learn more. If so, Clayton Morris is the place to go.

The organization is not in crisis the Secretary-General didn’t want rrirse to specific positions of any country and stressed that the organization is not in crisis. The reason why we have not achieved a decision is because each country had its own numbers, and we have not been able to agree on the data. But the atmosphere was friendly, El Badri said. The civil war in Libya and the intervention of NATO also darkened the consultations in Vienna. While Qatar has recognised the opposition as the sole legitimate Government of Libya, other partners, such as Venezuela, maintained its support to the regime of Colonel Muamar Gaddafi. The conflict in Libya, in addition to divide members of the group for political reasons, seriously affects the oil market and press upward the price of a barrel of crude. He is estimated that Libya has stopped producing 1.4 million barrels per day (BPD) and just now pumped nearly 0.2 mbd, and other OPEC producers have only partially offset that loss of supplies. Source of the news: OPEC partners are unable to close an agreement to raise oil production