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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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    Ministry of Oil: The lower prices did not affect production and export rates

    Rocky
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    • Post n°1

    Ministry of Oil: The lower prices did not affect production and export rates Empty Ministry of Oil: The lower prices did not affect production and export rates

    Post by Rocky Wed 08 Apr 2020, 2:40 am

    Ministry of Oil: The lower prices did not affect production and export rates

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    Economy News _ Baghdad
    The Oil Ministry confirmed on Wednesday that the decline in oil prices globally did not affect production and export rates.
    The spokesman for the ministry, Assem Jihad, said in an interview with the Iraqi News Agency and seen by "Al-Iqtisad News", "The decline in oil prices did not affect production and export rates, because the available energy for production is estimated at 5 million barrels per day."
    And that "Iraq production, according to the commitment of the (OPEC +) agreement, amounted to about 4 million and 500 thousand barrels per day. As for exports, it ranges between 3 million and 300 thousand barrels to 3 million and 500 thousand barrels per day."
    Jihad added that "Iraq agreed during the previous meeting to reduce OPEC production to a million and a half, provided that its production is not compromised," stressing that "it is not possible to reduce production rates as a result of the current situation and the exceptional circumstance that Iraq is going through."
    He pointed out that "Iraq has made extensive contacts with the oil ministers of OPEC member states and alliances with them outside the organization in the past days in order to bring the points of view closer to reaching an agreement to restore stability to the global oil market." She pointed out that "it was agreed to hold a ministerial meeting (OPEC + (Next Thursday), which is an important step to reach an agreement that will save the oil market from the big decline. "
    Jihad stressed "the need for the main producing countries from outside (OPEC +), including the United States, Canada, Norway, and others, to also commit to a reduction in production by them, which in turn is an important factor to control the oil surplus in global markets, and to restore the required stability and balance."

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