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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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    Iraq stresses the importance of the latest “OPEC +” decision: a proactive professional step

    rocky
    rocky
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    Iraq stresses the importance of the latest “OPEC +” decision: a proactive professional step Empty Iraq stresses the importance of the latest “OPEC +” decision: a proactive professional step

    Post by rocky Mon 17 Oct 2022, 6:52 am

    [size=45][size=41]Iraq stresses the importance of the latest “OPEC +” decision: a proactive professional step[/size]

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    On Sunday, the Iraqi state-owned oil marketing company, SOMO, announced the importance of the results and consequences of the OPEC + decision to reduce production by 2 million barrels per day.
    "SOMO" said in a statement, that OPEC + decisions are based on economic readings and indicators and in an objective professional manner, and the decision is taken unanimously.
    She added that there is complete consensus among OPEC + countries that the best approach in dealing with the oil market conditions during the current period of uncertainty and lack of clarity of vision is a proactive approach that supports market stability and provides the future guidance it needs.
    She pointed out that there is a close link between the demand for oil and the growth of the global economy, as one affects the other significantly, explaining that the International Monetary Fund indicated in its latest report on the prospects for the global economy, that the global economy is on the verge of recession at a very large rate, and that this recession if An event that will reduce the demand for crude oil, so the recent OPEC Plus decision came to reduce production by two million barrels per day, which does not differ from its previous decisions in terms of its dependence on market data and its variables, and it was important and necessary to achieve market balance in light of the deteriorating situation..
    Sumo pointed out that Iraq understands the market situation and the requirements of consuming countries and the global industrial and development sector, and is monitoring with its partners all these variables in order to achieve the required balance in the oil markets and maintain the stability and growth of the global economy.
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