Eight Countries Cut Fuel Oil Of Production In 2023

After the Ukrain and russia crisis, oil prices in the world market is more high. As a result, the volatility of Jalani oil increases several times. Because the market is almost entirely dependent on the dollar and Russian oil is falling down Different countries of the world are in crisis reserves Reduces oil purchases.

Which Country Decide to Reduce Production Due to Energy Consumption ?

By the end of 2022, the volatility of the oil market has decreased somewhat. Guaranteed export profits At the beginning of this year take decision to cut oil production The dominant member country Russia. That covers from February to December 5 lakh medal oil per day It is reported that there will be less production.

What is the status of the essential oil market?

Last April 13 oil production And the strength of the exporting country Most countries are on his side to cut oil production. However, no country could come to a decision about how much daily oil production will be reduced. Finally Saudi Arabia, United Arab Emirates,Iraq, Kuwait, Oman, algaria, kajakisthan Decided to cut oil production. Oil production will be reduced from this May to December 31. Due to which the production of fuel oil will be 16 lakh 7 thousand. 

As the reason Global Petroleum Corporation IEA Afraid that in 2023 year In the world market The daily demand for fuel oil has increased 10 crore 19 lakh barrels can be promoted. Which is more than 2 million more than last year.