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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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The Minister of Oil confirms that Iraq's exports will not be affected by the production cut

rocky
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The Minister of Oil confirms that Iraq's exports will not be affected by the production cut Empty The Minister of Oil confirms that Iraq's exports will not be affected by the production cut

Post by rocky Thu 06 Oct 2022, 4:22 am

[size=46]The Minister of Oil confirms that Iraq's exports will not be affected by the production cut[/size]
Economie
22:57 - 05-10-2022
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Today, Wednesday, Oil Minister Ihsan Abdul-Jabbar Ismail confirmed that Iraq's exports will not be affected by the OPEC Plus decision to reduce production.
Ismail said, during his attendance at the forty-fifth meeting of the Joint Ministerial Monitoring Committee, and the thirty-third ministerial meeting of the (OPEC Plus) group, which was held at the headquarters of the General Secretariat of the Organization of Petroleum Exporting Countries (OPEC), in the Austrian capital, Vienna, in a statement, that "the ministerial meeting discussed developments and challenges." facing the oil market, and the implications thereof, especially after the recent decline in oil prices and the instability of oil markets.
According to the statement, the Minister of Oil stressed the keenness of the producing countries in the Organization of Petroleum Exporting Countries and its allies from outside the organization to achieve more stability and balance between supply and demand.
 Ismail pointed out that "the ministerial meeting seeks and aims to achieve more stability and stability in the long run," noting the gains achieved by the OPEC Plus group in reaching and maintaining stability and balance for the oil markets, which was positively reflected on the economies of the producing countries, including Iraq. .
The Minister of Oil pointed out that the decision to reduce production was in line with the wise policy pursued by OPEC Plus during the past years, which is "proactive" in precautionary measures to confront the fluctuations of the oil market. 
Ismail noted that "the ministerial meeting of "OPEC Plus" decided to reduce the total production by two million barrels per day, with the contribution of all producing countries, and according to the production levels required for each, as of next November 2022."
He pointed out that "the decision aims to protect the oil markets from the negative effects as a result of the conditions and challenges facing global markets," noting that "Iraq aims to maintain its reference production level that was set by the agreement of the member states in July 2021."
Ismail noted, according to the statement, that “Iraq’s exports will not be affected by this reduction, as a result of managing internal consumption and in line with the decision to reduce production, in order to preserve the current export capabilities,” expressing his hope that “this decision will return with more stability and balance to global oil markets, and to the economy.” the National".

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