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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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    first comment from the Iraqi government on the reduction of "OPEC" for oil production

    Rocky
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    first comment from the Iraqi government on the reduction of "OPEC" for oil production Empty first comment from the Iraqi government on the reduction of "OPEC" for oil production

    Post by Rocky Sun 09 Dec 2018, 2:58 am

    [size=32]
    first comment from the Iraqi government on the reduction of "OPEC" for oil production[/size]
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     2 hours ago



    (Reuters) - OPEC and non-OPEC producers agreed to cut output at 1,200 million barrels per day (bpd) starting January 1, 2019 for a period of six months, Deputy Prime Minister for Energy and Oil Minister Thamir al-Ghadhban said on Saturday.

    "Iraq had an active and positive role in reaching this decision and in cooperation with the large member states of the Organization such as Saudi Arabia and the UAE, in addition to the positive role of Russia during the meetings held," he said, adding that Iraq had hoped that the decision would be cut for one year, The organization requested that it be 6 months. "

     "The OPEC countries will bear the bulk of the decision to cut production, which will be (800) thousand barrels per day and non-OPEC countries (400) thousand barrels, considering that the share of production of the OPEC countries, about 32 million barrels per day, while outside countries "OPEC" is about (18) million barrels per day. "

    "The impact of the agreement was positive and fast on international oil prices, where it saw a rise of 5% a few hours after the diversion of the decision to the media."

    He said that "the share of Iraq from the reduction will be 139 thousand barrels per day instead of 220 thousand barrels per day, which was committed to Iraq previously during 2017," noting that "the reduction is acceptable to us, especially that the oil barrel approved in the budget of 2019 is 56 dollars per barrel With a total deficit of 20% and therefore we need a price better practical and not a schematic. "

    For his part, Spokesman for the Ministry Assem Jihad said that "Iraq played a major role in bringing the views closer during the meetings has been proved by merit by reaching a resolution after the crisis during the meeting last day, because of the divergence of views between the parties together, but Iraq with countries Others played a big and positive role and were able to reach consensus within the organization to pass the resolution. "

    The oil minister met on the sidelines of the ministerial meeting with oil and energy ministers in Kuwait, Qatar, Iran, Algeria, Saudi Arabia and Russia, where bilateral cooperation was discussed to serve the common interests.


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