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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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    Iraq announces its position with the start of OPEC meetings on the level of production

    Rocky
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    Iraq announces its position with the start of OPEC meetings on the level of production Empty Iraq announces its position with the start of OPEC meetings on the level of production

    Post by Rocky Thu 05 Mar 2020, 4:20 pm

    Iraq announces its position with the start of OPEC meetings on the level of production

    •  Time: 05/23/2020 19:01:56
       
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    {Baghdad: Al Furat News} Iraq stressed the need to reach an agreement between members of the oil exporting countries (OPEC) and those allied with them from outside the organization, aiming to achieve stability and restore the balance between supply and demand, and work to alleviate the effects and repercussions that followed the spread of Corona virus.
    The head of the Iraqi delegation, Undersecretary Hamid Younis, during his participation in the ministerial meeting (178) of members of the oil-exporting countries (OPEC) in Vienna .. that everyone is aware of the repercussions of the Corona virus crisis and the vibrations that hit the oil market as a result, and their direct impact on the decline in demand for Crude oil, especially by China, which is the second largest global economy, and this requires in-depth research on the implications for the global markets in the short and medium term, and take appropriate steps by producers, stressing that the Asian market is important for us and others, as a promising market for crude oil And index Economic growth. The head of the participating delegation continued ... We have confidence that these countries will overcome the crisis and control it during the coming period, and return to economic activity more than it was before the emergence of Corona.
    Younis added that he met a number of oil and energy ministers in the Kingdom of Saudi Arabia, the Islamic Republic of Iran, Algeria, and the United Arab Emirates, as well as the Secretary-General of the Organization of the Petroleum Exporting Countries Muhammad Barikindo and discussed with them the importance of reaching an agreement that contributes to achieving the goals of the producers and is a joint and joint responsibility In order to maintain the balance and stability of the oil markets. Stressing the exceptional efforts of the Iraqi delegation in bringing views closer to a suitable agreement that restores global economic activity and increases the demand for crude oil.
    For his part, Director General of the Iraqi Oil Marketing Company (SOMO) Alaa Al-Yasiri said that the Joint Technical Committee (JTC) met on Tuesday 
    Its recommendations were submitted to the OPEC ministerial meeting, which was held Thursday, and to the ministerial meeting of the organization and its allies held on Friday, after reviewing the reports prepared by the OPEC Research Center regarding the effects of the virus on the demand for crude oil in the oil market and its implications for Chinese and global economic growth. .
    The ministry spokesman, Assem Jihad, affirmed that the producers in OPEC and those allied to it face great difficulties towards this crisis, which directly affected the Chinese economy and undermined its imports of crude and reduced the volume of economic growth in general, even if it was for a limited period. Jihad added On the continuation of the ministerial meeting of the Organization of Petroleum Exporting Countries "OPEC" on Thursday, 
    Then tomorrow, the ministerial meeting of OPEC and its allies will resume tomorrow, where everyone hopes to reach a new agreement that contributes to the stability of the oil market, and that Iraq has made great sacrifices during the last period in this framework alongside a number of other countries in the organization in order to save The oil market from collapse, and played a wise role in bringing views closer to the previous meetings, and despite all that, Iraq was and still supports strongly all the agreements that aim to achieve the required balance between supply and demand and lead to the stability of global markets.

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