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Growing of the oil Production from North American will limit the range at 55-60 U.S. Dollars
Despite recent ostentatious forecasts from optimistic experts that oil may reach the $100 mark in the near future due to the Organization of the Petroleum Exporting Countries' (OPEC) cutback agreement, the more conservative predictions were reinforced Wednesday by analysts, which believes $55 will be the norm in 2017.

OPEC¢s decrease in production will be lower and actual reduction could be as low as 700,000 barrels
The integrity of OPEC will be tested this January due to the agreement of the output reduction, while many analysts say that full compliance among participants is simply not in the cards.

Non – OPEC members came to an agreement to cut oil production, crude prices increased over 4%
Crude prices were increased over 4 percent early Monday after the Organization of the Petroleum Exporting Countries (OPEC) and non-member producers Saturday collectively reached a deal to reduce output for the first time since 2001. 

OPEC Decides to Decrease Output, but some members will produce ¡¢at highest levels that make sense¢¢.
The Organization of the Petroleum Exporting Countries (OPEC) today at an unofficial meeting in Algeria has agreed to reduce crude production, the first such segment since 2008.

The growth of BDI exceeded the 900 points, the highest levels in a year.
Baltic Dry Index finally broke 900 points on Wednesday for the first time since the end of October 2015, gaining 38 points to reach 903. This took several months longer than some market participants had earlier predicted.

Iran strains its try for attracting foreign investments and Iraq¢s exports rise, while Nigeria has problems.
Iran this week ignored judges who reckon its return has peaked by declaring that it is in negotiations with Japan’s Mitsui Chemicals and France’s Total SA to lure 60 billion US dollars in foreign investment.

Oil prices expected to be kept erratic as Russia, Iran and Libya all point out increasing output.
After reaching a two-month low on Wednesday, crude went back into positive sign with an increase of 1 percent, with nine consecutive weeks of inventory draws said to be easing concerns about the persistent market glut.

Regarding to OPEC, stiffer market in 2017 is expected; Saudi Arabia said to be trying to support it.
The latter monthly report of the organization of the Petroleum Exporting Countries (Opec) restates its prediction that crude request in 2017 will be higher than its present production – but it also claims, Brexit and other factors will slow the pace of demand growth.

Rise in production of Nigerian oil results in increasing OPEC¢s production
The organization of the Petroleum Exporting countries (OPEC) reports an increase in crude production of 240,000 barrels per day (bpd) in June, thanks to gains created by one of its more trouble-ridden members: Nigeria

Venezuela¢s oil production goes down, whereas China is unable to help due to its own problems
Venezuela’s status as a troubled oil producer is going from bad to worse, with its rolling power blackouts resulting in a 4.8% decreasing in production for May to 2.37 million barrels per day according to reports.

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