Oil price falls to boost U.S. production

The participants of the agreement to reduce the offer are committed to the reduction of stocks and the return of stability to the market. | Photo: @la_informacion

The price of oil fell on Wednesday slightly, due to extraction work carried out by United States (U.S.) and the rise in global stocks.
The basket that the organisation of petroleum exporting countries (OPEC) was quoted Tuesday in 52,60 dollars and brent, on the other hand, was estimated at 54,77 dollars the barrel, while the American oil ranked 52,32 dollars.
Producers of shale in the United States maintain an ambitious plan of bombing of the Permian Basin in Texas, aiming to increase the price of crude oil and complicate the strategies proposed by the members of the Organization of the petroleum exporting countries (OPEC) and non-OPEC looking to reduce global supplies and stabilize prices in the market. 
Data from oil drilling in the U.S. Government threw to shale, solid hydrocarbon production, you are expected rise to 5.19 million barrels per day (bpd) next month, and that the production of Permian, the area with more shale in the nation, get a record of 2.36 million barrels per day.
> OPEC improves prognosis on oil demand to 2017 for its part, OPEC strives to control the overall value of crude oil through the reduction of the production announced at the end of the year 2016.
The Secretary general of OPEC, Mohammed Barkundo, in the middle of last year indicated that the causes of instability and uncertainty in the oil market is due to the high level of storage.
Also said that from 2014 the prices of crude oil have fallen due to the abundance in stock levels (300 million barrels on average in the last five years), reason by which, the organization works to control the high storage.
OPEC countries have clarified that they strive to bring inventory levels and maintain a value that permit to guarantee the investment and the demand for the product. 
> Venezuela comply almost 100 percent of the OPEC cut