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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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    An Economist Explains The Reason For Reducing Daily Oil Production In Light Of High Prices

    Rocky
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    • Post n°1

    An Economist Explains The Reason For Reducing Daily Oil Production In Light Of High Prices Empty An Economist Explains The Reason For Reducing Daily Oil Production In Light Of High Prices

    Post by Rocky Sun 06 Mar 2022, 5:27 am

    [size=38]An Economist Explains The Reason For Reducing Daily Oil Production In Light Of High Prices
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    LAST UPDATE 03/05/2022 | 7:47 PM
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    The economic expert, Ibrahim Al-Shammari, explained, on Saturday, the reason for reducing Iraq's daily oil production despite the significant increase in its prices as a result of the Russian-Ukrainian war.
    Al-Shammari said in a statement to the "Information" agency, that "according to OPEC, reducing oil production maintains its high prices in the long term, so all countries operating under the shadow of the organization reduce their production in a small way," noting that "all indicators indicate that oil prices It continues to rise to $150 per barrel.
    He explained, "The current rise in oil prices came as a result of the Russian-Ukrainian war. If the war stops, the price of a barrel will drop and return to its normal state, and production will rise again."
    And he indicated that "raising global demand for oil raises prices, and reducing domestic production, according to OPEC, keeps prices high."
    It is noteworthy that Iraq has significantly reduced its daily oil production in light of the historical rise in prices
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