In Mexico believe that the agreement on oil will help stabilize prices

В Мексике считают, что соглашение по нефти позволит стабилизировать цены

The Ministry of energy of Mexico considers that the agreement to reduce global production will help stabilize oil prices.

“The agreement will contribute to the stabilization of oil prices, which would encourage new investment in exploration and production, and also strengthen global energy security”, — stated in the message Department.

The agreement reached by OPEC on Wednesday, the agreement is to reduce from 1 January 2017 oil production by 1.2 million barrels per day — up to 32.5 million. However, as reported OPEC President Saleh al-Sada, the agreement calls for production cuts by countries outside the organization of 600 thousand barrels per day, and Russia agreed to reduce by 300 thousand. The agreement is for six months with possibility of extension for another 6 months.

According to the Ministry, Mexico in 2017, will produce about of 1.94 million barrels of oil per day, which is spelled out in the business plan of Pemex. “This figure is less production, which with high probability by the end of the year will reach 2,159 million barrels per day, this reduction will contribute to the stability of the international oil market, and it occurs due to the natural fall of the stocks in the oil fields of the country, which began in 2014”, — stated in a press release.