Home
[size=36]How much will Iraq's production rise from the latest OPEC Plus agreement?[/size]
Economie| 06:07 - 03/06/2022
[You must be registered and logged in to see this image.]
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this link.]
Baghdad - Mawazine News
, the Ministry of Oil revealed today, Friday, the size of the increase in Iraq's production after the OPEC Plus group agreed to raise production in the coming months of July and August by 456,000 barrels, while it indicated the total volume of production for Iraq next month.
A spokesman for the Ministry of Oil, Assem Jihad, said, "Producing countries are closely monitoring developments in the oil market, and are reviewing reports in this regard in order to take measures to ensure the stability of high markets, and here it should be noted the differentiation between export quantities and the quotas established by OPEC Plus. It's about production, not export."
He added, "The increase in production after the OPEC Plus agreement will be at a rate of 71 thousand barrels per day, which will increase Iraq's total production to 4 million and 580 thousand barrels as of next July."
He added, "It is common knowledge that the decisions of OPEC or OPEC Plus are clear to everyone and are taken through the ministerial meeting of the member states of OPEC and those allied with it from outside OPEC, and the decisions or agreements are unanimous."
On the possibility of OPEC Plus taking the initiative to fill the shortfall in Russian oil supplies, Jihad explained that “no one or more countries can compensate for the shortfall experienced by the global oil markets for any circumstance or reason, except through OPEC Plus, and there is a moral agreement that obliges everyone to abide by the prescribed quotas. For each country, and any increase agreed upon is unanimously agreed upon by all OPEC Plus producing countries, including Russia.
He added, "Any uncalculated increase will reflect negatively on global markets and lead to a decline in oil prices, and what the OPEC Plus countries, including Russia, are working on is maintaining the balance between supply and demand and the stability of global markets and minimizing their effects and repercussions, and how to face these challenges and different circumstances."
He pointed out that "the oil market is a fragile market and requires dealing with it wisely, not with emotions and quick, undisciplined or well-calculated reactions. It is better than exporting large quantities at low prices.”
He pointed out that the ministerial meeting of OPEC Plus countries will be held at the end of this month in order to review the developments of the oil market and may face great difficulties to compensate for the quantities that the oil markets may lose from Russia's production.
, the Ministry of Oil revealed today, Friday, the size of the increase in Iraq's production after the OPEC Plus group agreed to raise production in the coming months of July and August by 456,000 barrels, while it indicated the total volume of production for Iraq next month.
A spokesman for the Ministry of Oil, Assem Jihad, said, "Producing countries are closely monitoring developments in the oil market, and are reviewing reports in this regard in order to take measures to ensure the stability of high markets, and here it should be noted the differentiation between export quantities and the quotas established by OPEC Plus. It's about production, not export."
He added, "The increase in production after the OPEC Plus agreement will be at a rate of 71 thousand barrels per day, which will increase Iraq's total production to 4 million and 580 thousand barrels as of next July."
He added, "It is common knowledge that the decisions of OPEC or OPEC Plus are clear to everyone and are taken through the ministerial meeting of the member states of OPEC and those allied with it from outside OPEC, and the decisions or agreements are unanimous."
On the possibility of OPEC Plus taking the initiative to fill the shortfall in Russian oil supplies, Jihad explained that “no one or more countries can compensate for the shortfall experienced by the global oil markets for any circumstance or reason, except through OPEC Plus, and there is a moral agreement that obliges everyone to abide by the prescribed quotas. For each country, and any increase agreed upon is unanimously agreed upon by all OPEC Plus producing countries, including Russia.
He added, "Any uncalculated increase will reflect negatively on global markets and lead to a decline in oil prices, and what the OPEC Plus countries, including Russia, are working on is maintaining the balance between supply and demand and the stability of global markets and minimizing their effects and repercussions, and how to face these challenges and different circumstances."
He pointed out that "the oil market is a fragile market and requires dealing with it wisely, not with emotions and quick, undisciplined or well-calculated reactions. It is better than exporting large quantities at low prices.”
He pointed out that the ministerial meeting of OPEC Plus countries will be held at the end of this month in order to review the developments of the oil market and may face great difficulties to compensate for the quantities that the oil markets may lose from Russia's production.
[You must be registered and logged in to see this link.]
» MM&C 9/29/24 What after the closure of the currency auction at the Central Bank of Iraq?
» MM&C 9/29/24 "THE EXPECTED PATH OF THE IRAQI ECONOMY"
» utube 9/28/24 MM&C IQD Update News -Iraq PM - $83 Billion 3 Years - Stability - Global Contracts -
» utube MM&C 9/26/24 Iraq Dinar News-Iraq Plans Redenomination of Currency-Value of it Related-Elect
» Advisor to the Prime Minister rules out a decline in gold prices in the coming period..and explains
» Legal expert: If it weren't for the Security Council's collusion, the Zionist entity would have been
» Minister of Planning announces field progress in preparations for the census
» Proposal before the government to form an economic and security crisis cell
» Al-Karawi: The government's ignoring of the resistance's request is a betrayal of the blood of the m
» Iraq is the fourth largest importer from Türkiye during the past month
» The Prime Minister directs that Lebanese citizens wishing to come to Iraq be granted fast travel doc
» US releases founder of cryptocurrency exchange Binance
» The Central Bank of Iraq issues a warning to exchange companies regarding the sale of dollars
» The Central Bank of Iraq sells more than $ 258 million in today's auction
» Launching of aid and scholarship salaries this week
» Karbala begins implementing 154 projects
» Next Tuesday.. Closing of the application for the central admission form
» Service effort: Including the capital and 4 governorates in next year’s plans
» Rafidain Bank issues instructions for granting real estate loans
» The expected path of the Iraqi economy
» Experts: Population census shapes economic policies and directs investments
» Central Bank records more than $1 billion in currency sales in a week
» The Central Bank of Iraq warns exchange companies that sell dollars to travelers from receiving a co
» Iraq under the microscope.. Will Baghdad succeed in avoiding regional conflict after the assassinati
» Al-Sudani makes a phone call to the Lebanese Prime Minister
» How will developments in Lebanon affect the Iraqi economy and the oil market?
» The position of the Speaker of Parliament and developments in the region on the table of Masoud Barz
» Targeting of an American base in Syria by Iraqi factions
» Official: Border shelling targeted Iraqi faction, reports of casualties
» How much is Iraq's external debt in light of the fluctuation in oil prices?
» Iraq is not far from war.. Will the factions enter into a confrontation with Israel?
» Outcomes of the Coordination Framework Meeting in the Presence of Al-Sudani
» Al-Sudani renews to Mikati Iraq's firm position in supporting Lebanon and standing with it
» Iraq's oil exports to US rise in a week
» 5 governorates on the 2025 service effort plan
» Dollar exchange rates in Iraqi stock exchanges today
» Drug Law Amendments: No Life Sentences Anymore... Trade and Agriculture Will Be Faced with "Death Pe
» A long-awaited historic position... When will the coalition forces leave Iraq?
» Warnings of an imminent economic danger... and the alternative solution is taxes!
» Dilapidated buildings and shortages... Iraq needs new schools!
» Iraq is the second Gulf country to award contracts worth more than $2 billion
» Intensive US movements on the Iraqi-Syrian border.. Where is the situation heading? - Urgent
» Iraqi Minister of Water Resources speaks to Al Jazeera Net about solutions to the water crisis
» Iraqi Foreign Ministry: Expanding the scope of war in the region leads to serious consequences
» /Information/ reveals the location of the Rafidain Bank robbers in Ramadi
» Al-Sudani Office for /Al-Maalouma/: Foreign workers threaten graduates
» Foreign Minister invites his Venezuelan counterpart to visit Baghdad
» "Government" real estate loans with amounts up to 150 million dinars.. Conditions and details
» Setting a date to launch 102 investment opportunities in Iraq
» Bitcoin Set to Post Best September Ever on Rate Cut
» What is the truth about the existence of a naval embargo imposed on Iraq?
» More than $70 million in Iraqi imports of Indian tea
» Oil price decline: Impact hits new groups in Iraq
» Parliamentary Finance to NINA: The decline in global oil prices will not affect employees’ salaries
» Al-Hakim: Investing in tourism as one of the sources of financial revenues for the state
» From Najaf Al-Ashraf.. The Minister of Labor announces the completion of the procedures for issuing
» Parliamentary Finance to NINA: The decline in global oil prices will not affect employees’ salaries
» 19,000 dinars difference from the official price.. The dollar falls slightly in Baghdad
» Al-Asadi: We call on citizens to invest in the retirement and social security law
» “Worth $4 billion”: Iran exports engineering services to Iraq
» US, Iraq agree to end 'alliance' in September 2025
» New tax will push house prices up, Iraq's real estate market into recession
» It is black and includes Iraq.. Netanyahu waves the “curse map” before the United Nations
» “The wiretapping scandal” complicates the political scene.. The second term is far from Al-Sudani
» Suspicions surround hospital projects.. Is corruption hindering the Chinese agreement in Iraq?
» Statement issued by the media office of Dr. Iyad Allawi
» Faeq Zidane: The jurisdiction of law and judiciary is a constitutional and legal jurisdiction
» Sudanese arrives in Baghdad
» Planning: Completion of 70% of inventory and numbering work in Kirkuk
» Rafidain Bank announces granting real estate loans to three categories
» Dollar price today
» Netanyahu enters with maps and attendees leave the General Assembly session.. What did he mention Ir
» The historic agreement on international withdrawal... a turning point in the path of Iraqi sovereign
» Includes citizens, employees and retirees.. A real estate loan from Rafidain worth 150 million dinar
» Does it include an American withdrawal? Two important indications in the statement "ending the missi
» Dollar exchange rates drop in Iraqi stock exchanges
» Will the drop in oil affect only employees' salaries or all segments of society?
» North Carolina removes 747,000 from voter rolls
» The full extent of the Biden-Harris criminal alien invasion REVEALED
» utube 9/24/24 MM&C Iraqi Dinar News-IRAQ-INTERNATIONALISM NY-2023 to 2029 Road Map - Social- Finan
» Hanoun calls for benefiting from the Chinese economic experience and linking the Silk Road between t
» Gulf-American statement directs a strict request to Iraq
» Conflict escalates in the Middle East, warning of Iraq slipping deeper into confrontation
» EU 'concerned' over increasing executions in Iraq
» Mustafa Sand: The judiciary has proven the “wiretapping” issue, and Al-Sudani’s brother is involved
» Parliamentary Committee Talks in Numbers About Iraq’s Water Crisis with Türkiye and Proposes a Solut
» Why did the Central Bank hesitate to implement the measures taken against Iraqi private banks?
» US State Department: Announcement of agreement on the future of the international coalition from Ira
» Housing Crisis in Iraq: “Ambitious” Government Plans and Fears of Monopoly
» Will privatization save Iraq's economy or open the door to corruption?
» Parliament: Agreement with the regional government to review its oil contracts to adapt them constit
» Interior Minister: Iraq is free of drug factories
» Anbar Alliance: Halbousi clings to power because he fears opening major files against him
» Rising prices of oil derivatives in Kurdistan.. reasons and goals
» Economist calls on the government to resort to tax exemption
» Iraqi Oil Company for Investment and Pricing of Raw Gas Produced
» Increase in activity at Mandali border crossing during the current year
» MP: New cities map will include eight governorates next year