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Opec oil: cut OPEC exports from Iraq's favor
August 1, 2019
BAGHDAD (Reuters) - OPEC's instructions to cut oil exports are in Iraq's interests, said a member of the oil and energy committee, Sadiq al-Sulaiti, on Thursday, pointing out that reducing exports means that oil prices are better and this is in the interest of the country.
Al-Sulaiti said in a statement to SNG that "it is in Iraq's interest to comply with the instructions of the Organization of Petroleum Exporting Countries," noting that "OPEC's instructions to the participating countries to reduce oil exports is in Iraq's interest because its prices will be high."
He pointed out that "the equation is equal in the case of maintaining a normal rate of export oil will be the price of oil refreshed and beneficial to Iraq," pointing out that "any violations or increase in quantities exported from OPEC countries will cause a drop in prices, More at lower prices ".
He added that "Iraq is a country committed to the instructions of OPEC and commitment to quantity on the price of oil equivalent to production and achieve good profits for the country," explaining that "reducing oil exports will affect Iraq's ambition to export six million barrels, but any increase will be offset by a decrease in price, Production reduces the price of oil. "
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Opec oil: cut OPEC exports from Iraq's favor
August 1, 2019
BAGHDAD (Reuters) - OPEC's instructions to cut oil exports are in Iraq's interests, said a member of the oil and energy committee, Sadiq al-Sulaiti, on Thursday, pointing out that reducing exports means that oil prices are better and this is in the interest of the country.
Al-Sulaiti said in a statement to SNG that "it is in Iraq's interest to comply with the instructions of the Organization of Petroleum Exporting Countries," noting that "OPEC's instructions to the participating countries to reduce oil exports is in Iraq's interest because its prices will be high."
He pointed out that "the equation is equal in the case of maintaining a normal rate of export oil will be the price of oil refreshed and beneficial to Iraq," pointing out that "any violations or increase in quantities exported from OPEC countries will cause a drop in prices, More at lower prices ".
He added that "Iraq is a country committed to the instructions of OPEC and commitment to quantity on the price of oil equivalent to production and achieve good profits for the country," explaining that "reducing oil exports will affect Iraq's ambition to export six million barrels, but any increase will be offset by a decrease in price, Production reduces the price of oil. "
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