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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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After the OPEC + decision... How much will Iraq's production be in July?

rocky
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After the OPEC + decision... How much will Iraq's production be in July? Empty After the OPEC + decision... How much will Iraq's production be in July?

Post by rocky Fri 03 Jun 2022, 5:32 am

[size=35][size=35]After the OPEC + decision... How much will Iraq's production be in July?[/size]
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Economie

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2022-06-03 | 03:22
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Alsumaria News - Economy
The OPEC + alliance announced an increase in oil production by 648,000 barrels per day in the next July and August.








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During its ministerial meeting, the coalition stressed the importance of having stable and balanced markets for crude oil and refined products.
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He pointed to the end of the closures caused by the Corona virus pandemic in the main global economic centers, expecting that the consumption of global refineries will increase after seasonal maintenance.

The coalition decided to extend the compensation period until the end of December 2022, as required by some poor-performing countries, provided that these countries present their plans by June 17.

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The next ministerial meeting of OPEC + is scheduled to be held on June 30, 2022, according to what was stated in a press release issued by the alliance, and viewed by the Specialized Energy Platform.

Oil production quotas for the month of July
Oil production in Saudi Arabia will rise, and[You must be registered and logged in to see this link.], by 170,000 barrels per day in July, to reach 10.833 million barrels per day, under the new production quotas.

It will produce[You must be registered and logged in to see this link.]Next month - 1.039 million barrels per day, an increase of 16,000 barrels per day from June.

While the UAE's production will increase by 52 thousand barrels per day, to reach 3.127 million barrels per day in July.

It will produce[You must be registered and logged in to see this link.]4.580 million barrels per day next month, an increase of 71 thousand barrels per day, according to the statement of oil production quotas, which was seen by the Specialized Energy Platform.
OPEC + and the increase in production
The countries of the OPEC + alliance have committed - during the past months - to increase oil production by 432,000 barrels per day.

However, the coalition decided - at its meeting today - to adjust the total production planned for the month of September, and to redistribute the increase in production evenly over the months of July and August 2022.

This comes at a time when the coalition is facing increasing calls to increase production, to face the high prices Energy, along with a decline in Russian oil production, affected by sanctions imposed on Moscow in the wake of its invasion of Ukraine.

It may decrease production[You must be registered and logged in to see this link.]As a result of Western sanctions, as much as 2 million to 3 million barrels per day, according to a range of industry estimates.

Russian oil production fell by about one million barrels per day, less than its target set in OPEC +, at 10.44 million barrels per day, as production reached[You must be registered and logged in to see this link.]About 9.3 million barrels per day in April.

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