Oil production in USA as of may 20 fell by about 20 percent from the March level.
The publication writes that oil production in USA as of 20 may, fell 2.3 million barrels per day, with a peak in March to 13.24 million.
It is noted that this reduction is almost equivalent to the volume that is applied in Saudi Arabia and the Russian Federation in the framework of the agreement OPEC +.
Earlier, the US Department of energy predicted that oil production in 2020 is expected to average 11.7 million barrels per day is 0.5 million barrels per day less than in 2019. In 2021 it is expected that oil production will further decline by 0.8 million barrels per day.
The Ministry of energy of Saudi Arabia has ordered state-owned Saudi Aramco to reduce the oil production in June by another 1 million barrels per day in addition to the country’s obligations under OPEC deals+.
Oil prices have increased the rise on Tuesday, Brent crude rose above $ 30 per barrel for the first time since the 15th of April, WTI is more expensive for the fifth consecutive session.
OPEC countries agree on the largest in the history of the reduction of oil production to 9.7 million barrels per day. The agreement came into force on 1 may.
Earlier, the countries-members of the APPO (African organization of oil producers – EP), which did not participate in the OPEC agreement, also pledged to contribute to global efforts and to adjust their daily production.
On April 10, it became known that the majority of OPEC countries and Russia have reached agreements in principle on the terms of the reduction of oil production, namely to reduce in may-June 2020 the production of 10 million barrels per day.