The increase in prices triggers the tension.



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Price of Brent oil

June 19, 2014 Brent reaches $ 115.06, the highest level for the year before the slowdown.

January 20, 2016 Brent crude falls to $ 27.88, the lowest in more than 12 years.

December 30, 2016 Oil prices are trading at $ 56.82, the highest of the year.

May 4, 2017 Brent slips below $ 50 while crude reserves in the US. 19659002] June 20, 2017 Crude prices fall in a bear market as traders become more skeptical that OPEC cuts do the job.

November 6, 2017 Brent reaches the highest level in more than two years in geopolitical medium tensions in the Middle East.

Production of OPEC and Russia

June 11, 2014 At a meeting in Vienna, while OPEC leaves production unchanged, Saudi Arabian Oil Minister Ali Al-Naimi says " we do not have to worry about anything. "

November 27, 2014 After failed cooperation talks with Russia, Saudi Arabia leads OPEC to pursue market share instead of cutting production, causing prices to fall.

March 31, 2015 Saudi Arabia increases its crude production above 10m b / d for the first time in decades.

December 4, 2015 The OPEC unit was in tatters as the group did not agree on a new production target, which caused a price drop.

January 7, 2016 Saudi Arabia announces its intention to make an initial public offering for state producer Aramco, part of a broader strategy to diversify the Kingdom's economy.

January 16, 2016 Sanctions related to Iran's nuclear program end, allowing the OPEC member to increase its crude output over time.

February 16, 2016 Saudi Arabia and Russia surprise the market with a preliminary agreement to freeze production at current levels, boosting prices.

April 17, 2016 Conversations in Doha to end the freeze failed as Saudi Arabia refused at the last minute to sign up.

May 7, 2016 The Saudis signal a policy change when Ali Al-Naimi, former Oil Minister, is replaced by former Aramco CEO Khalid Al-Falih.

September 28, 2016 OPEC and Russia meet in Algiers and agree to cut production, although the crucial details have not been resolved.

October 31, 2016 Russia's oil production reaches 11.2mb / d, the highest level in almost 30 years.

November 30, 2016 OPEC agrees to cut production by 1.2mb / d beginning January 1. A few days later, non-OPEC countries, including Russia, commit to reducing their production by 600,000 b / d. [19659002] November 30, 2016 OPEC production reaches a record high of 34.14mb / d.

January 1, 2017 OPEC and its allies begin to cut production for six months.

February 10, 2017 IEA says that OPEC made 90% of its promised cuts, a level never reached in previous agreements.

May 15, 2017 Saudi Arabia and Russia say they are in favor of extending production cuts until the end of Q1 2018, since it becomes clear six months, is not enough. This decision is formalized at a meeting in Vienna 10 days later.

U.S. production

June 25, 2014 The shale oil producer Pioneer's market capital reaches a record $ 33.4 billion as US production progresses.

October 10, 2014 It is a record high simulation of 1,609.

June 5, 2015 EE. UU crude production reaches 9.61mb / d, a record that will be exceeded in November 2017.

September 16, 2015 Slate bets begin to deteriorate as US producer Samson Resources files a bankruptcy with a debt burden of 4.2 billion dollars. 19659002] April 14, 2016 Energy XXI, another US shale producer UU., Files for bankruptcy protection.

May 27, 2016 Low prices drive oil extraction in the US UU At the lowest level since October 2009. [19659002] July 14, 2017 EE. UU crude inventories fall below their level a year ago for the first time since 2014.

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