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The Algerian oil shooting increased by almost 5 dollars in April



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May 18, 2019

– Sahara prices The Sahara mix rose $ 4.77 in April, on concern that oil supplies could be disrupted as a result of new oil prices. Geopolitical risks.

According to data released Tuesday by the Organization of the Petroleum Exporting Countries (OPEC) in its latest monthly report, the average monthly price per month was $ 71.15 per barrel in April, compared with $ 66.38 per barrel a month earlier, up 7.2 percent.

The price of the Sahara blend is based on Brent's crude reference price to the North Sea on the London market with an additional premium on the physical-chemical properties estimated by refiners.

The rise in crude oil in Algeria came against the background of the general recovery in world oil prices. The average price of the OPEC basket rose in April by $ 4.41 compared with March, and reached $ 70.78 a barrel (6.6%), its highest level in six months.

This upward trend stems from the involvement in the markets, which is expressed mainly in geopolitical threats in major oil producing areas, according to the same source.

The OPEC report also showed that Algeria's production in April reached 1.019 million barrels per day (Mbj), a slight decrease of 4,000 megawatts compared to the average production in March (1,023 million barrels per day) . BPD).

Overall, the OECD countries generated 30,031 Mbj in April, compared with 30,034 Mbj in March, according to secondary sources. The organization saw a drop of about 3,000 barrels a day, mainly due to a sharp drop in Iran.

OPEC agreed last December with 10 non-OPEC countries, notably Russia, to produce a combined production of 1.2 million barrels a day from January 1, 2019, a six-month period, with a drop of 800,000 barrels per day by OPEC and 400,000 barrels / Day by those who do not produce OPEC countries.

This agreement follows the commitment of the 15 OPEC member states to reduce their production by 3%, compared with 2.2% by the 10 partner countries, knowing that Iran, Venezuela and Libya are not concerned about difficulties in producing their normal quotas.

FIN / INFOSPLUSGABON / MIA / GABON2019

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