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2021-04-10 08:11
Shafaq News / A new survey conducted by the S&P Global Platts platform showed that Iraq's commitment to exporting its scheduled share of crude oil decreased to 88% last March, indicating that Iraq owes 647 thousand barrels per day.
The platform stated in a report seen by Shafaq News Agency, that the commitment of the "OPEC +" organization to its quotas decreased to 111% in March, compared to 113.5% last February, indicating that the production of crude oil from the Organization of Petroleum Exporting Countries "OPEC" and its allies "OPEC" + “It rose by 450 thousand barrels per day in March.
She added that Russia and Iraq pumped much higher than the agreed limits, while Iran and Libya, which are exempt from quotas, boosted production as well.
She pointed out that "the Iraqi compliance rate decreased to 88% last March, as it produced 3.95 million barrels per day, an increase of 60 thousand barrels per day from the previous month, and 90 thousand barrels per day is higher than the quota set in OPEC + of 3.857 million barrels per day." ".
The platform stated that "Russia already owes the largest volume of compensation cuts, amounting to 806 thousand barrels per day, as of February, followed by Iraq at 647 thousand barrels per day."
The 13 OPEC members pumped 25.20 million barrels per day in March, an increase of 340,000 barrels per day in February, while their nine non-OPEC partners, led by Russia, produced 13.08 million barrels per day, an increase of 110,000 barrels per day, according to the survey.
OPEC + ministers will meet online on April 28 to review their decision to reduce quotas.
The S&P Global Platts platform is a provider of energy and commodity information and a benchmark price source ... S&P Global Platts and Argus Media are recognized as the two most important price reporting agencies for the oil market.
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Decrease in the rate of Iraq's commitment to its oil quotas to 88% in Marc
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2021-04-10 08:11
Shafaq News / A new survey conducted by the S&P Global Platts platform showed that Iraq's commitment to exporting its scheduled share of crude oil decreased to 88% last March, indicating that Iraq owes 647 thousand barrels per day.
The platform stated in a report seen by Shafaq News Agency, that the commitment of the "OPEC +" organization to its quotas decreased to 111% in March, compared to 113.5% last February, indicating that the production of crude oil from the Organization of Petroleum Exporting Countries "OPEC" and its allies "OPEC" + “It rose by 450 thousand barrels per day in March.
She added that Russia and Iraq pumped much higher than the agreed limits, while Iran and Libya, which are exempt from quotas, boosted production as well.
She pointed out that "the Iraqi compliance rate decreased to 88% last March, as it produced 3.95 million barrels per day, an increase of 60 thousand barrels per day from the previous month, and 90 thousand barrels per day is higher than the quota set in OPEC + of 3.857 million barrels per day." ".
The platform stated that "Russia already owes the largest volume of compensation cuts, amounting to 806 thousand barrels per day, as of February, followed by Iraq at 647 thousand barrels per day."
The 13 OPEC members pumped 25.20 million barrels per day in March, an increase of 340,000 barrels per day in February, while their nine non-OPEC partners, led by Russia, produced 13.08 million barrels per day, an increase of 110,000 barrels per day, according to the survey.
OPEC + ministers will meet online on April 28 to review their decision to reduce quotas.
The S&P Global Platts platform is a provider of energy and commodity information and a benchmark price source ... S&P Global Platts and Argus Media are recognized as the two most important price reporting agencies for the oil market.
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