OPEC members can strictly implement the reduction agreement

There are comments that, to reach the November landmark oil production agreement, the organization of Petroleum Exporting Countries (the Organization of the Petroleum Exporting Countries, referred to as: OPEC) Member States spent several months to eliminate suspicions and concerns frequently with each other. Reaching an agreement may not be difficult, but it is another thing to do. This article has a certain reference significance.

Many energy analysts and former OPEC officials said that OPEC has its own production agreement cannot be executed precedent. OPEC agreement will usually indicate the specific reduction requirements for each member of the country. But to ensure that every member of the member states to comply with the provisions of the credit of the credit mechanism is relatively fragile, OPEC does not have an official mechanism to punish the violation of the commitment of the member states.
Sachs Goldman (Goldman Sachs), said the 17 cut since 1982, OPEC members cut the average level of only 60% of the level of commitment. Morgan Stanley (Stanley Morgan) said that during the 2000-2008 period, OPEC production average of 883 thousand barrels per day exceeded the quota.

Last Saturday, 11 non OPEC countries held a meeting in Vienna, OPEC headquarters agreed to a total of 558 thousand barrels per day, to further emphasize the importance of fulfilling the promise. OPEC member countries and non OPEC countries have not announced the details of the country’s production cuts, the time and manner of implementation of the agreement.
Oil traders and analysts say OPEC members often play games on production numbers to protect their own market share or to conceal oil output that is above its quota during the negotiations. Even the production figures are often controversial. OPEC will release two sets of data, one group is the organization to obtain the estimated output from the independent information sources, the other group is a member of the direct report of the number of output.

The lack of transparency has led some industry observers to determine the actual output of OPEC members by monitoring oil tanker loading and pipeline transport. These groups provide data to traders, oil companies, and OPEC members who want to monitor the output of other member countries through the data.
Geneva’s SA Petro-Logistics is such a company, the company has said it through the deployment of information sources in the world to obtain information on the network.
The company founder Conrad Gerber late in 2000 to “the Wall Street Journal (blog, micro-blog)” (The Wall Street Journal) said, if he is to disclose the information source of identity, then they might be beheaded. Gerber says he can’t call them when they’re in the office, because their cell phones are being monitored.
OPEC spokesman didn’t respond to requests for comment on the situation.