Opec Plans to Increase Oil Production in 2006
August 31, 2005
Opec, oil trust, reports an increase in oil production in 2005 and wants to raise the oil production volume by nearly 2 mil/d barrels in 2006. Opec is trying to increase the volume of oil production mainly at the light kinds of oil. Other global oil producers also increased their oil exploitation by a total of about 700,000 barrels/d in 2005.