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Oil Falls, OPEC Records Increase in Production
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New York recorded a drop in crude oil by 1.7% this is after it rose by 15% in the last four seasons. Bloomberg News survey found out that last month OPEC's production had been boosted to 34.16 million barrels daily. Russia now needs a non-OPEC oil producer to support it in its effort of reducing out. Russia has promised to cut 300, 000 barrels but OPEC is anticipating doubling the cut in every single day. 

Russia is not part of the OPEC block but is willing to help in bringing down the output. The trimming of OPEC’s output has seen oil topping at $50 a barrel. The block...

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