Iraq plans to cut 628 thousand barrels of oil production during March

Iraq plans, the second largest producer in OPEC, cut oil exports to 3.013 million barrels per day during the month of March. He attributed the oil expert, this procedure to maintenance work carried out by the Ministry of Oil in the oil fields. 
She said the agency (Reuters) " The oil loading program, showed that Iraq 's second - largest producer in OPEC plans to cut oil exports from the southern port of Basra to 3.013 million barrels per day in March, the lowest level since last August." 
She added that "according to the program will drop Basra Light crude exports in March to 2.207 million barrels per day, and crude exports will decline slightly heavy Basra to 806 thousand barrels per day." 
And at least the size of shipments in March / March by 628 thousand barrels than planned for the month of February the current. The lowest level since August / August last, in a new sign of Baghdad 's commitment to reduce production agreement entered into by OPEC with independent producers. 
Iraq recently announced its full commitment to implement the agreement and OPEC has cut production of 210 thousand barrels per day in order to reduce the oil supply in the market, which has contributed significantly to the improvement in oil prices , which reached $ 56. 
Iraq is committed to export quantities of oil worth $ 168.7 million to meet the Financial Audits of his spending budget set to 106 trillion dinars. And imposed on the budget of the Ministry of Oil to export 3.75 million barrels per day, and at a price of $ 45. 
But the failure of the Baghdad and Erbil agreement on oil region, caused by cutting export provided for in the budget. In addition, Iraq to take responsibility for reducing 210 thousand barrels of daily exports of commitment to OPEC 's agreement. 
Oil Ministry did not announce the size of the monthly oil exports since the start of the OPEC agreement in the first of this year, also reveal the selling prices, which raised questions about the reduction of oil the size of Basra and Kirkuk. 
The MP said Tariq Jamal, a member of the parliamentary energy committee, (range) that " the reduction of Iraqi oil exports, confirms that Iraq is committed to OPEC 's agreement and supports its decision to withdraw the supply of crude oil from the global market." He explained that "Iraq 's production capacity in a big boom where statistics indicate to the production of 3.5 million barrels from the southern provinces , in addition to 700,000 barrels, go to domestic consumption, the production of isolation from the Kurdistan region." 
He attributed it to the oil expert Hamza Jeweler, cut oil exports to the "maintenance of oil fields in the south of the country, in addition to Iraq 's commitment to reduce oil production." 
He said the jeweler, told the (range), " The reduction of oil exports to Iraq due to maintenance work carried out in the Rumaila and Zubair, which led to a break in addition to the reduction of 210 thousand barrels per day of Iraq 's production, according to the agreement , OPEC" .lavta that " reduced oil exports will be offset by higher oil prices , which recently rose compared to last year. " 
The Southern Oil Company stopped its oil exports for a full day because of linking a new pipe to export oil through ports in order to double the pumping from the storage to the export ports warehouse capacity. 
In another context, Tariq al- Hadidi, Chief Executive Officer of the General Authority of the Egyptian Petroleum said, " The travel of the Egyptian delegation to Iraq comes in the context of termination of the agreement with the Iraqi side," pointing out that " the recent period has seen intense negotiations between the Egyptian Oil Minister Tariq Al - Mulla, the Minister of Oil Iraqi Jabbar Allaibi "predicting that" the Convention enters into force in a few weeks. " 
Hadidi added that "Egypt get Iraqi crude since the period by international companies and suppliers, but the intergovernmental agreement between the two countries, Egypt gives payment facilities , " adding that " the Basra oil is one of the finest raw materials imported by Egypt." 
Egypt is seeking to import between one million and two million barrels of Iraqi oil a month, and is expected completion of the agreement during the current quarter of 2017.