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Iraq expects full implementation of the agreement {OPEC}
2/13/2017 0:00
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BAGHDAD / Farah pumice
Iraq has increased its forecast full and serious commitment to the oil - producing countries to reduce production to support oil prices in the global market after the data ( the latest OPEC).
So to the UAE expected more commitment in the coming months, according to UAE Energy Minister Suhail Al Mazroui.
According to the data used by the (OPEC) to monitor the supplies were carried out (OPEC) , more than 90 percent of the production cuts in January in a strong start for the implementation of the first cut of production in eight years. For his part , favored economic analyst Rahim Al Shammari another increase in crude oil prices in the coming period.
The Al - Shammari said in his statement the "morning" that data (OPEC) shows how the concerned parties commitment to the recent Convention , which should benefit Iraq and the countries accredited in revenue producing Alinvt.oassadt oil prices after the indicators announced by the (OPEC), as increased global Brent crude Brent crude to $ 1.07 , or 1.9 percent , to $ 56.70 a barrel in the settlement, where on the raw highest level in the session at $ 56.88 a barrel, besides been settled WTI US mediator in the futures at an altitude of 86 cents , or 1.6 percent to $ 53.86 a barrel, while the basket recorded (OPEC) , containing 13 types of crude to $ 52.76 a barrel. It agreed (OPEC) to cut oil production by about 1.2 million barrels per day as of January 2017 with Russia and ten other producers from outside to support oil prices and reduce the oversupply in the market. The organizers expect the Iraqi oil sector , the full application of the agreement (OPEC).
According to the average estimates of six secondary sources used by the (OPEC) to monitor production output OIC Member States has dropped and the 11 state to 29.92 million barrels per day , or that the degree of compliance with the undertakings amounted to 92 percent.
The International Energy Agency (which is one of the six secondary sources): The members of the Organization of Petroleum Exporting Countries (OPEC) cut production in January, equivalent to 90 percent of the reductions required levels , a level much agreement over (OPEC) in 2009 , when the initial compliance rate of 60 percent.[/rtl]
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