economy From 2017-04-02 at 00:22 (Baghdad time)
Baghdad Mawazine News
Iraqi Prime Minister Haidar al-Abadi discussed in Baghdad Saturday evening with the Secretary-General of the Organization of Petroleum Exporting Countries (OPEC) Mohammed Bakando and his delegation ways to maintain coordination between the oil-producing countries and the rights of members of the Organization.
"The secretary-general of the Organization of Petroleum Exporting Countries (OPEC), Mohamed Sanousi Bakendo, and his accompanying delegation received today," the office of Abadi said in a statement published by Mawazine News.
He pointed out that the meeting, which was attended by Iraqi Oil Minister Jabbar al-Luaibi discussed ways to maintain coordination between the oil-producing countries and the rights of the members of the Organization.
The President of the Republic Fuad Masum met in Baghdad on Saturday evening OPEC Secretary General, Mohamed Sanusi Bakendo and the delegation of the organization accompanying him.
At the beginning of the meeting, Masoum welcomed the Bakandou and the guest delegation, pointing to the importance of the hoped-for role of the Organization in maintaining coordination between the oil producing countries and preserving the rights of the members and the keenness of Iraq to keep oil marketing and export away from the effects of the policy. Submitting supply, demand and prices to differences and policy implications.
For his part, Bakendo praised the important role of Iraq in OPEC as a founding state of the Organization and Iraq's keenness for the unity of OPEC and strengthen its efforts to serve the interests of all.
The Iraqi oil minister confirmed Iraq's commitment to reduce the production ceiling in accordance with the agreement of the Organization of Petroleum Exporting Countries (OPEC) and the countries outside the Organization, which began implementation since last January .. He said: Iraq is committed to the decision to reduce, despite achieving record rates of oil exports during the past year and hoped to improve oil prices After controlling the supply oversupply and growing world oil demand over the coming period.
The Iraqi oil marketing company (SOMO) announced on Thursday that Iraq's average oil production reached 4.464 million barrels per day since the beginning of March, down by more than 300,000 barrels per day compared to pre-implementation levels set by the Organization of the Petroleum Exporting Countries (OPEC) from January 1 .
"The average of Iraqi crude exports since the beginning of March reached 3.756 million barrels per day, down from 3.869 million bpd in February," Sumo director Falah al-Amri told reporters in Baghdad. "The March level includes 515,000 barrels per day exported by the Kurdistan region of Iraq."
He added that the commitment of Iraq, the second largest oil producer within OPEC after Saudi Arabia, cut production by 90 percent.
Iraq's exports hit a record 4 million barrels per day (bpd) in November ahead of OPEC's announcement of a deal to cut production in the first six months of 2017
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