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A Norwegian company: Four countries, including Iraq, have 4 million barrels per day of spare capacit

Rocky

Rocky: Admin Assist; Posts : 268390
Join date : 2012-12-21

Post n°1

A Norwegian company: Four countries, including Iraq, have 4 million barrels per day of spare capacit

by Rocky Sat 12 Mar 2022, 5:06 am

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A Norwegian company: Four countries, including Iraq, have 4 million barrels per day of spare capacity

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2022-03-12 05:06

Shafaq News/ The Norwegian company Rystad Energy announced that four countries, including Iraq, have 4 million b/d of spare capacity.
The company said in a report that "Saudi Arabia, Iraq, the UAE and Kuwait collectively possess about 4 million barrels per day of spare capacity that can be put on the market within a period ranging from 3 to 6 months."
“Most of these countries have huge exploitable onshore storage capacity, which means a few million barrels can be filtered for export in weeks, if not days,” said Louise Dixon of Rystad.
Concern about supply disruptions following the Russian invasion of Ukraine that began on February 24 pushed global oil prices to their highest since 2008 at more than $139 a barrel last week.
However, prices have since fallen amid market expectations that some producers may pump more.
OPEC+, which includes the Organization of the Petroleum Exporting Countries (OPEC), Russia and its allies, has struck an agreement to gradually increase production each month by 400,000 barrels per day. The group refused to move more quickly, even as prices rose.
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A Norwegian company: Four countries, including Iraq, have 4 million barrels per day of spare capacit

A Norwegian company: Four countries, including Iraq, have 4 million barrels per day of spare capacit

A Norwegian company: Four countries, including Iraq, have 4 million barrels per day of spare capacity

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