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Neno's Place Established in 2006 as a Community of Reality


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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

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


    Iraq has a good opportunity to raise its export quantities to more than 3.5 million barrels per day.

    Rocky
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    • Post n°1

    Iraq has a good opportunity to raise its export quantities to more than 3.5 million barrels per day. Empty Iraq has a good opportunity to raise its export quantities to more than 3.5 million barrels per day.

    Post by Rocky Wed 30 Jun 2021, 7:39 am


    [size=30]Iraq has a good opportunity to raise its export quantities to more than 3.5 million barrels per day.. The world is thirsty and the deficit exceeds 2 million barrels

    2021-06-30
    [/size]
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    Yes Iraq: Baghdad

    Expectations and indicators of the global market indicate a possible rise in oil demand that will face a deficit in the available oil supplies, which may not be sufficient for the growing demand, amid expectations that the deficit difference will be more than 2 million barrels per day, which makes Iraq, in addition to the OPEC countries, a good opportunity to increase export quantities .
    Data from the American Petroleum Institute showed that crude stocks in the United States fell by 8.2 million barrels.
     
    For his part, the Secretary-General of the Organization of Petroleum Exporting Countries (OPEC), Muhammad Barkindo, sees that demand is expected to rise by six million barrels per day in 2021, with 5 million barrels per day of that in the second half of the year.
     
    As the Organization of the Petroleum Exporting Countries prepares for an upcoming meeting, the organization expected an oil supply deficit by August and for the rest of 2021 as economies recover from the pandemic, which means that the organization and its allies will have a chance to increase production at this week's meeting.
    The latest forecasts of “OPEC” regarding demand for its crude indicate that if production levels remain the same, the supply of the countries of the organization will be less than the expected demand level by 1.5 million barrels per day in August, and the shortage will expand to 2.2 million barrels per day in the fourth quarter.
     
    The meeting will decide on the group's production policy as it moves to release some of the barrels it has been withholding from the market to support prices after demand evaporates in 2020.
    The Organization of Petroleum Exporting Countries "OPEC" and its allies had decided to return 2.1 million barrels per day, or about 2% of global production, to the market during the period from May to July as part of a plan to ease the record restrictions followed since last year.
    The “OPEC +” group meets, on Thursday, to discuss the supply plan for subsequent months, and with oil prices reaching their highest levels since 2018, it is likely that OPEC will raise its production and oil supplies.
    OPEC data shows that Tehran pumped 2.5 million barrels per day in May, while it was producing 3.8 million barrels per day in 2018 before the United States tightened sanctions.
    Therefore, an increase of 1.3 million barrels per day from Iran in the next few months will give “OPEC +” less room to add supplies without pushing the market to record surpluses.
    The “OPEC +” countries reduced production by 9.7 million barrels per day last year with the collapse of demand when the epidemic appeared, but as of July, these restrictions will drop to 5.8 million barrels per day.
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