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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: Non-OPEC agreement is not the end of the world .. and warns of its repercussions

    Rocky
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    • Post n°1

    Iraq: Non-OPEC agreement is not the end of the world .. and warns of its repercussions Empty Iraq: Non-OPEC agreement is not the end of the world .. and warns of its repercussions

    Post by Rocky Fri Mar 06, 2020 4:02 pm

    Iraq: Non-OPEC agreement is not the end of the world .. and warns of its repercussions

    •  Time: 03/23/2020 20:49:11
       
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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, and that Failure to reach a new cut agreement is not the end.
    The head of the Iraqi delegation , Undersecretary Hamid Younis at the conclusion of the ministerial meeting of the eighth members of the Petroleum Exporting Countries (OPEC) and its allies in Vienna .. that some members are demanding to give them more time to assess the repercussions of the virus króna on the global oil market, and the postponement of the additional reduction of the production process,  
    he added Yunus, we have some time until the end of the current month to assess the oil market conditions by the Ministerial Technical Committee for Production Control, which is the end of the period prescribed for the previous agreement, expressing his hope for closer views between members of (OPEC) and those allied with it from outside with a view to He reached an agreement that satisfies everyone and contributes to rebalancing the oil market. 
    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) had met on the first day   
    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. In the third meeting was between OPEC members and their allies. 
    The ministry spokesman, Assem Jihad, affirmed that the producers of OPEC and its allies are facing great difficulties towards this crisis, which directly affected the Chinese economy and undermined its crude imports and reduced the size of its economic growth in general. Jihad added that the members ’efforts continue to reassess The challenges facing the global economic growth and oil market conditions,  
    Where everyone hopes to succeed in reaching 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 along with a number of other countries in the organization in order to save the oil market from collapse, and played a wise role in bringing destinations Looking at previous meetings, and despite all of 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.
    Ammar Al-Masoudi ended


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