A Plan-Do-Check-Act or Adjust (PDCA) Approach is the cycle of continuous improvement work process in quality business consisting the four essential steps that should be carried out systematically to achieve continuous improvement. It is also known as the Deming circle/cycle/wheel, the Shewhart cycle, the control circle/cycle, or plan–do–study–act (PDSA). Another version of this PDCA cycle is OPDCA. The added "O" stands for observation or as some versions say: "Observe the current condition." This emphasis on observation and current condition has currency with the literature on lean manufacturing and the Toyota Production System. (Source: Wikipedia)
OPEC Reference Basket averaged $62.06/b in December, its highest since June 2015.
World economic growth forecast remains at 3.7% for both 2017 and 2018.
World oil demand is projected to grow at around 1.57 mb/d, averaging 96.99 mb/d for 2017.
Non-OPEC oil supply growth for 2017 now stands at 0.77 mb/d, For 2018, non-OPEC supply growth was revised up by 0.16 mb/d to now stand at 1.15 mb/d.