11-07-2013 | (Voice of Iraq) - Add a comment -
Ruled out oil expert Ibrahim Bahr al-Ulum said Iraq should be under the Convention to reduce OPEC's market share in 2014 vernacular.
Bahr al-Ulum said (of the Agency news): that there are advanced in technology and leadership oil production and is still the market need for OPEC oil, especially the East Asian region, stressing there is no fear of reducing Iraqi production.
He ruled that the Iraq within OPEC agreement, so as to economic considerations and because of the historical factors that went through the last period.
He added: He does not have any problematic current to put Iraq's future oil production despite the increase in production shale oil and gas, indicated that an international agreement confirmed in a report last year, or the requirements of growth of the world will depend on the Iraqi oil بنسة 45% in years to come.
OPEC's share will shrink in the global oil market in 2014, which will transform the high U.S. shale oil supply organization from taking advantage of the fastest rate of global demand growth in four years.