OPEC expects under its new forecast of demand on members’ oil of 31.25 million barrels per day in 2016, representing a reduction of 90,000 barrels per day to the last previous forecast.
In February low OPEC’s total production of 32.38 million barrels per day.
A futures contract for delivery of Brent crude next month, falling by nearly 3 percent to just over 38 dollars per barrel after six weeks of continuous rise.
on Monday also dropped the price of oil significantly, since the government of Iran over the weekend made it clear that it intends to double its oil production to four million barrels per day before there can be talk of participating in the production limitations coordinated with other oil countries.
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