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[size=36]Allawi: Iraq is unable to increase its oil exports and is committed to the OPEC agreements[/size]
Economie| 08:52 - 20/04/2022
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Baghdad - Mawazine News
Finance Minister Ali Allawi confirmed today, Wednesday, that "Iraq is unable to increase oil exports in response to high global oil prices and supply disruptions related to Russia, because it is clearly committed to the agreements mandated by OPEC."
Allawi said during a visit to Washington, "While Iraq benefits from the high oil prices incurred by the Russian-Ukrainian war, the costs of the conflict are also significant, including higher prices for fertilizers, wheat and other basic commodities."
Allawi added, "The reasons for Iraq's stay in OPEC were recently confirmed by the Saudi-led supply cut agreement, which he described as an "undoubtedly successful policy."
Iraq pumped 4.34 million barrels per day in March, up 80,000 barrels per day from February and just below the OPEC production ceiling of 4.37 million barrels per day, according to the latest S&P Global Commodity Insights survey. Ended 29 / 92
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