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.

Join the forum, it's quick and easy

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

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Iraq decides to join the "oil price war" and plans to increase production

    Rocky
    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 278350
    Join date : 2012-12-21
    • Post n°1

    Iraq decides to join the "oil price war" and plans to increase production Empty Iraq decides to join the "oil price war" and plans to increase production

    Post by Rocky Wed 01 Apr 2020, 2:21 am


    [size=41]Iraq decides to join the "oil price war" and plans to increase production

    2020-03-31
    [/size]
    [You must be registered and logged in to see this link.]FILE PHOTO: Flames emerge from flare stacks at Nahr Bin Umar oil field, north of Basra, Iraq March 9, 2020. REUTERS / Essam Al-Sudani / File Photo
    Yassin Iraq: Baghdad
    Informed government sources revealed that Iraq, the second largest oil exporter in OPEC, is planning to join the "oil war" waged by Russia and Saudi Arabia by flooding the "saturated" market with oil, where production and export are expected to increase to an average of 4.8 million barrels.
    And Bloomberg website quoted an informed source as saying that Iraq plans to increase production by about 200 thousand barrels per day to reach 4.8 million barrels as an average production.
    Thus, Iraq will join the Kingdom of Saudi Arabia, Russia and other countries, in adding more oil to the market already flooded as a result of the price war between Riyadh and Moscow.
    The Iraqi source, who requested not to be identified because the information he provides is not public, said that Baghdad will ship 3.6 million barrels per day in April using the maximum export capacity of the pipelines, compared to the average exports during the month of March amounted to 3.4 million barrels per day.
    He added that Iraq believes that there are no restrictions on its oil shipments for the month of April, but it may face problems if the epidemic continues and if the customer tanks are full.
    The Iraqi Oil Ministry did not immediately respond to requests for comment.
    The Organization of the Petroleum Exporting Countries (OPEC) failed earlier this month to persuade Russia to join the cuts, which led to a collapse in crude prices.
    The relative shares of Iraqi sales to Asia, Europe and the United States were not affected by the spread of the Corona virus, and Asia remains the largest regional market for Iraq, while China is the largest buyer of Iraqi oil, importing between 800 thousand to 900 thousand barrels per day as shown in March exports.
    The source said that some refineries in China began to increase production after life returned to normal slowly and slowly in some cities there.


    [You must be registered and logged in to see this link.]
    • Back to top
      Current date/time is Mon 30 Sep 2024, 9:19 am