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Iraq vows to meet oil Taakedath with customers in Asia and Europe
term / Reuters
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Iraq vows to meet oil Taakedath with customers in Asia and Europe
term / Reuters
Three - informed sources said on Monday that Iraq 's second - largest producer in the Organization of Petroleum Exporting Countries (OPEC) agreed to fully customizable Basra crude supply for the month of February for three refining companies in Asia and Europe.
He said one of the buyers , "there has been no cut. They gave us what we asked him."
It was not possible to get immediate comment from the Iraqi Oil Marketing Company (SOMO).
Full customization may indicate that exports from the ports of Basra in southern Iraq will remain high after hitting record levels reached 3.51 million barrels per day in December before the OPEC agreement to cut production , which came into force on the first of January.
OPEC has agreed to reduce production by 1.2 million barrels per day in the first half of 2017 in order to reduce the oversupply of crude in the world market and support prices.
He said Iraqi Oil Minister Ali Jabbar Allaibi earlier that high exports in an unprecedented way from the south will not affect Iraq 's decision to reduce production in December , a commitment to OPEC 's agreement , according to a ministry statement.
SOMO plans to export 3.5 million barrels per day in January, equivalent to the record levels were recorded in December , according to showed its own loading program last month.
Iraq also boosted oil sales to China, India and the United States in 2017 before supplies by OPEC reduced.
Continued global measurement Brent and WTI US mediator losses on Monday , down dollars a barrel after Iran 's exports have risen and the number of oil rigs operating in the United States which could lead to increased production.
Earlier on Monday Iraq raise the official selling price of Basra Light crude to Asia in February , but cut prices to Europe and the United States.
On the other hand, announced Prime Minister Haider al - Abadi, he will agree on a pipeline transporting oil from Iraq through Jordan line.
Ebadi said in a joint press conference with his Jordanian counterpart Hani Mulki "It will be an agreement soon on a pipeline transporting oil from Iraq through Jordan line."
Abadi said that "Iraq will be able through this pipeline to export its oil to the world through the port of Aqaba."
He said one of the buyers , "there has been no cut. They gave us what we asked him."
It was not possible to get immediate comment from the Iraqi Oil Marketing Company (SOMO).
Full customization may indicate that exports from the ports of Basra in southern Iraq will remain high after hitting record levels reached 3.51 million barrels per day in December before the OPEC agreement to cut production , which came into force on the first of January.
OPEC has agreed to reduce production by 1.2 million barrels per day in the first half of 2017 in order to reduce the oversupply of crude in the world market and support prices.
He said Iraqi Oil Minister Ali Jabbar Allaibi earlier that high exports in an unprecedented way from the south will not affect Iraq 's decision to reduce production in December , a commitment to OPEC 's agreement , according to a ministry statement.
SOMO plans to export 3.5 million barrels per day in January, equivalent to the record levels were recorded in December , according to showed its own loading program last month.
Iraq also boosted oil sales to China, India and the United States in 2017 before supplies by OPEC reduced.
Continued global measurement Brent and WTI US mediator losses on Monday , down dollars a barrel after Iran 's exports have risen and the number of oil rigs operating in the United States which could lead to increased production.
Earlier on Monday Iraq raise the official selling price of Basra Light crude to Asia in February , but cut prices to Europe and the United States.
On the other hand, announced Prime Minister Haider al - Abadi, he will agree on a pipeline transporting oil from Iraq through Jordan line.
Ebadi said in a joint press conference with his Jordanian counterpart Hani Mulki "It will be an agreement soon on a pipeline transporting oil from Iraq through Jordan line."
Abadi said that "Iraq will be able through this pipeline to export its oil to the world through the port of Aqaba."
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