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OPEC has left the quotas for oil supplies unchanged

The organization of countries-exporters of oil (OPEC) after the summit on December 4 decided not to reduce quotas on oil supplies to the world market, reported news Agency AP.

The participants of the summit told journalists that the agreement on the conservation of volume of deliveries at the current level.

The official OPEC quota is 30 million barrels of oil per day, but in recent years the cartel often sells more energy, and sometimes the supply volume exceeds the quota by almost two times.

Despite the fact that since 2014 the price of oil fell to around $ 40 per barrel, most OPEC members preferred to retain deliveries at the same level.

Earlier it was reported that experts at Goldman Sachs, one of the world’s largest investment banks predict a fall in the price of crude oil due to the sharp reduction in demand from oil refiners and the shortage of storage capacity.

Analysts note that the present reserves of petroleum products in the U.S. and Europe and the processing volume of crude oil is close to a historical maximum, while the free space in storage there are very few.

OPEC has left the quotas for oil supplies unchanged 05.12.2015

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