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[size=36]Iraq: We are committed to the OPEC + decision to increase production[/size]
Economie| 08:39 - 19/04/2022
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Baghdad - Mawazine News
The Ministry of Oil confirmed, on Tuesday, Iraq's commitment to the decision of the Organization of the Petroleum Exporting Countries, OPEC and its allies, to increase oil production.
And the ministry's spokesman, Assem Jihad, told the official news agency, "Iraq is within the agreement of the OPEC + countries, and it is included in the schedule of production increases that are distributed to all countries."
Jihad added, "We are committed to the decision of the OPEC + countries that monitor the oil market and set a schedule for increases whenever the oil market sees the need to pump more oil," noting that "the latest increase in which Iraq participated was 400,000 barrels, which were divided among the countries according to proportions."
The Ministry of Oil confirmed, earlier, that the commitment of members of OPEC Plus to production quantities contributed to absorbing the oil surplus in the markets, while it identified 3 factors that affect the market and increase or decrease global demand.
The ministry's spokesman, Assem Jihad, said in a statement to the official news agency, "The Iraqi exports of crude oil achieved the highest rate in decades last month at 3 million and 244 thousand barrels per day, with revenues amounting to 11.7 billion dollars."
He pointed out that "oil markets are affected by several factors, including wars, political and health tensions, and the increase and decrease in demand for oil. We note that the Russian-Ukrainian war has caused an increase in demand due to a lack of supplies, and therefore there is a rise in oil or gas prices," noting that "Russia is one of the countries The main producer and supplier to Europe, as the latter needs Russian gas.
The OPEC + group had agreed, earlier, to increase oil production by (400,000) thousand barrels per day, starting from March. Ended 29/R77
The Ministry of Oil confirmed, on Tuesday, Iraq's commitment to the decision of the Organization of the Petroleum Exporting Countries, OPEC and its allies, to increase oil production.
And the ministry's spokesman, Assem Jihad, told the official news agency, "Iraq is within the agreement of the OPEC + countries, and it is included in the schedule of production increases that are distributed to all countries."
Jihad added, "We are committed to the decision of the OPEC + countries that monitor the oil market and set a schedule for increases whenever the oil market sees the need to pump more oil," noting that "the latest increase in which Iraq participated was 400,000 barrels, which were divided among the countries according to proportions."
The Ministry of Oil confirmed, earlier, that the commitment of members of OPEC Plus to production quantities contributed to absorbing the oil surplus in the markets, while it identified 3 factors that affect the market and increase or decrease global demand.
The ministry's spokesman, Assem Jihad, said in a statement to the official news agency, "The Iraqi exports of crude oil achieved the highest rate in decades last month at 3 million and 244 thousand barrels per day, with revenues amounting to 11.7 billion dollars."
He pointed out that "oil markets are affected by several factors, including wars, political and health tensions, and the increase and decrease in demand for oil. We note that the Russian-Ukrainian war has caused an increase in demand due to a lack of supplies, and therefore there is a rise in oil or gas prices," noting that "Russia is one of the countries The main producer and supplier to Europe, as the latter needs Russian gas.
The OPEC + group had agreed, earlier, to increase oil production by (400,000) thousand barrels per day, starting from March. Ended 29/R77
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