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Parliamentary Oil: The last OPEC agreement was not balanced and we will host the Iraqi delegation

rocky
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delegation - Parliamentary Oil: The last OPEC agreement was not balanced and we will host the Iraqi delegation Empty Parliamentary Oil: The last OPEC agreement was not balanced and we will host the Iraqi delegation

Post by rocky on Sun 12 Apr 2020, 1:39 am

Parliamentary Oil: The last OPEC agreement was not balanced and we will host the Iraqi delegation

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{Baghdad: Al Furat News} The head of the Parliament’s Oil and Energy Committee, Hebat Al-Halbousi, said that the (OPEC )’s last meeting was not “balanced”.
Al-Halbousi revealed in a press statement that his committee will "add the Iraqi delegation to discuss what happened in the meeting and clarify visions in order to reach a mechanism to implement the agreement."
He pointed out that "the political nature controls the fateful and sovereign decisions of OPEC."
And agreed on an emergency meeting (OPEC Plus), last Thursday, to reduce production by ten million barrels per day, to enter into force at the beginning of next May and continue for two months.
And documents issued by OPEC revealed that Iraq will reduce during the next two months one million and 61 thousand barrels per day.
According to the documents, the reduction of all countries during the months of May and June will be 23% of its production. Therefore, Iraq’s share of the reduction will become 1.061 million barrels per day, and from July to the end of the year 2020, the percentage will be reduced to 18%, and Iraq’s share of the reduction will be 849 thousand barrels per day. .
It is reported that Iraq was required to reduce 191 thousand barrels during the OPEC + agreement, which lasted for more than three years, and the rate of Iraq was 80%.
The Minister of Oil, Thamer Al-Ghadhban, said earlier that "the success of the agreement depends on the commitment of the producing countries, both within and outside OPEC, as it is dependent on controlling the Corona virus that has swept the world and led to a reduction in oil consumption."
And that " the demand for oil will see a significant decline this year basis mainly due to the epidemic Corona outbreak disrupted most of the economy , " noting that " the recovery of oil markets depends on the extent and when efforts to contain and eliminate work on this virus , " .anthy
Ammar al - Masoudi


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