Oil production in the world decreased in March by 0.8%
The global oil production decreased by 0.7 million barrels per day or almost 0.8%in March, the International Energy Agency said. The main reason is 70% reduced production in Libya, which, until the last events in the country, accounted for about 2% of global oil production. Current high oil prices, agency experts note, begin to gradually slow down the growth rate of global demand for raw materials, although this effect can be fully manifested no earlier than six months later.