Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Join the forum, it's quick and easy

Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Iraq is causing OPEC headaches due to volatile production

    Rocky
    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 280906
    Join date : 2012-12-21
    • Post n°1

    Iraq is causing OPEC headaches due to volatile production Empty Iraq is causing OPEC headaches due to volatile production

    Post by Rocky Tue 21 Nov 2017, 9:37 am


    Iraq is causing OPEC headaches due to volatile production

    14:51 - 21/11/2017


    [You must be registered and logged in to see this link.]
    Information / Translation
    The Organization of the Petroleum Exporting Countries (OPEC) faces a problem with its second largest oil exporter, Iraq, ranging from oversupply and sudden output cuts, limiting the image of the organization's policy as oil ministers try to extend production restrictions.
    "After Iraq's output exceeded its production quota throughout the year, production fell last October due to the crisis in disputed Kirkuk, and after the return of calm, exports from the northern fields of Iraq remained 40 percent lower in half," a Bloomberg report said. The first of November compared to pre-crisis, according to data showing the tracking of oil tankers.
    "The Organization of the Petroleum Exporting Countries (OPEC) will meet next week in Vienna at a time when the Organization is struggling with the volatility of production in Libya and Nigeria, while Iraq adds another kind of unpredictability. Iraq, which did not get a production quota last year after decades of exemptions, Has never felt comfortable with the restrictions and wants to maximize the potential production of the country. "
    "Production in Iraq will remain volatile and while it will be difficult for Iraq to fill the gap of barrels lost in the north quickly, the real intention of Iraq is to reach the production of five million barrels per day by the end of the year," said Iraqi Oil Minister Issam Chalabi.
     OPEC's strategy for cuts shows signs of success in boosting prices, with Brent trading above $ 60 a barrel this month after falling below $ 30 a barrel last year, while oil prices rose 10 cents to $ 62.32 a barrel until yesterday .
    "It is not clear when the flow of oil fields will resume around the northern city of Kirkuk, which still needs to use a pipeline that the Kurds keep to access international markets. The sources confirm that the pipeline was exported 320,000 barrels per day in the first half of October, Compared with 565,000 bpd in the first nine months of this year. "
    "Kurdish unrest could last for another six months, and Iraq will remain unclear in production, but this fluctuation will be sporadic and disturbing," said Jaafar al-Tai, managing director of Manar Consulting Group, which operates in Iraq.
    "Iraq will remain an unreliable source in the market" as a result of the fluctuation of output, said the head of commodities research at Citigroup in New York. Ending / 25 z

    [You must be registered and logged in to see this link.]
    • Back to top
      Current date/time is Sun 17 Nov 2024, 3:14 pm