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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

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Established in 2006 as a Community of Reality

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OPEC announces it will absorb the increase in Iraq's oil production

rocky
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  • Post n°1

OPEC announces it will absorb the increase in Iraq's oil production Empty OPEC announces it will absorb the increase in Iraq's oil production

Post by rocky Tue 28 Jan 2014, 6:30 am

OPEC announces it will absorb the increase in Iraq's oil production



Iraq, recently announced that it is seeking to increase its oil production to more than four million barrels per day in 2014, plans could raise its oil exports

01/28/14 BAGHDAD / obelisk: detection secretary general of the Organization of Petroleum Exporting Countries "OPEC" Abdullah al-Badri said on Tuesday that the organization will absorb the production of Iraq, which is expected to raise its production and export, as well as both Iran and Libya.
It was Iraq, recently announced that it is seeking to increase its oil production to more than four million barrels per day in 2014, with Oil Minister Abdul Karim and coffee on the status of plans could raise its oil exports to 3.4 million barrels per day, including 400 thousand barrels from fields in the Kurdistan region.

Badri said at an oil conference held in London, said that "the other members of OPEC if they will lower their production to make room for increased supply from Iraq, Iran and Libya, we Snstoabh when it arrives," adding, "We faced a lot of problems in the past and we were able to overcome them and will overcome this too."

He explained that "OPEC members know their share of the total production ceiling of the organization of 30 million barrels per day."

The decline in OPEC output over the past year due to the unrest and protests in Libya and violence, as well as the bad weather in Iraq; addition to sanctions against Iran.

And increased Arabia is the largest producer in the Organization and with the United Arab Emirates and Kuwait, supplies to make up the shortfall caused by the disruption of production in Libya and elsewhere.

The international poll conducted in January that the current OPEC production fell in December to its lowest level since May 2011 to about 29.53 million barrels a day from 29.64 million bpd in November.

Analysts said that the solution to these problems may add to the production of the organization of two million barrels per day of oil, at least from Iraq and other countries, which could push crude prices to decline if you do not other countries to cut production.

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