The implementation rate of OPEC production cuts by the International Energy Agency is 90%

The monthly report released by the International Energy Agency shows that the Organization of the Petroleum Exporting Countries (OPEC) reduced production by 90% of the agreement in the first month when the agreement took effect.
This is the most powerful of OPEC's previous production cuts
.
???? According to estimates by the International Energy Agency, the daily output of crude oil from OPEC member countries fell to 32.
1 million barrels in January, and the reduction in output in countries such as Saudi Arabia even exceeded the requirements of the production reduction agreement
.
Among non-OPEC oil-producing countries, preliminary data showed that Russia reduced production by an average of 100,000 barrels per day in January
.
Russia had previously promised to gradually achieve the goal of reducing its daily output by 300,000 barrels
.
???? The report believes that global crude oil demand growth will be stronger than previously expected.
In 2016, global crude oil daily demand increased by 1.
6 million barrels over the previous year.
In 2017, global crude oil daily demand will further increase by 1.
4 million on this basis.
Bucket
.
???? At the end of last year, 11 non-OPEC oil-producing countries including OPEC and Russia reached a crude oil production reduction agreement in Vienna, the capital of Austria
.
According to the agreement, in the six months from January 2017, OPEC will cut production by an average of 1.
2 million barrels a day, and 11 non-OPEC oil-producing countries will cut production by an average of 558,000 barrels a day
.