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The Ministry of Oil reveals to "Yass Iraq" the plan to confront the falling prices .. Will Iraq part

rocky
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reveals - The Ministry of Oil reveals to "Yass Iraq" the plan to confront the falling prices .. Will Iraq part Empty The Ministry of Oil reveals to "Yass Iraq" the plan to confront the falling prices .. Will Iraq part

Post by rocky on Wed Mar 11, 2020 3:48 am


[size=41]The Ministry of Oil reveals to "Yass Iraq" the plan to confront the falling prices .. Will Iraq participate in a "war to raise production"?


2020-03-10
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Yassin Iraq: Baghdad
A spokesman for the Ministry of Oil, Assem Jihad, stressed that Iraq has a production capacity of 5 million barrels per day, but that going behind increasing production and flooding the market on the Saudi way is not in the interest of Iraq and helping to increase the price deterioration, while Iraq is studying its options and is in contact with member states In OPEC.

Jihad said in a statement singled out by "Iraq," that "Iraq aims to stabilize the oil market and work on a balance between supply and demand and does not want to engage in productive and price speculation with OPEC member states or allied countries producing from outside OPEC," noting that "requires Dealing realistically and objectively with the new changes and patience and not dealing with quick reactions.
Jihad stressed that Iraq: "is studying a set of options that can be dealt with and there may be an increase in oil exports and the market will be the ruler in the way of dealing and imposing the productive productive reality."
He pointed out that "the production capacity available to Iraq is 5 million barrels, part of which is for refineries and part to export, and certainly Iraq has the potential to gradually increase energy to larger quantities during the coming years."
He stressed that "the ministry's plans during the next two decades to increase production from 6 to 8 million and be gradual and therefore Iraq was specified in the production ceiling in conjunction with the agreement concluded with OPEC members and allies from outside OPEC to control the oil surplus is a moral commitment from Iraq aimed at obtaining Stability in oil markets, obtaining good prices and saving the market from collapses.
He added, "We are studying many options, but Iraq is in contact with member states to bring the points of view closer by holding a meeting to reach an agreement between the oil producing countries, whether from inside or outside OPEC."
He considered that "it is not wise to pump more oil to world markets, which causes more losses, oil surpluses in the markets and deteriorating prices."
 

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