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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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    Survey: Iraq raised its oil production by 80 thousand barrels per day last month

    Rocky
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    Survey: Iraq raised its oil production by 80 thousand barrels per day last month Empty Survey: Iraq raised its oil production by 80 thousand barrels per day last month

    Post by Rocky Wed 09 Nov 2022, 5:09 am

    Survey: Iraq raised its oil production by 80 thousand barrels per day last month

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    Economy News-Baghdad
    Last October, OPEC and its allies led by Russia raised crude oil production by 220,000 barrels per day, led by 3 countries, including Iraq.
    According to a survey by S&P Global Commodity Insights, the 13-member Organization of the Petroleum Exporting Countries and its allies led by Russia, which pledged to cut production by 100,000 barrels per day last October, instead raised production by 220,000 barrels. On the day many members got back some barrels they had lost due to outages and maintenance.
    According to the survey, "sharp gains in production came from Iraq, Kazakhstan and Russia in exchange for losses in Saudi Arabia and Angola, where the coalition of 22 countries witnessed a rise in production to 43.23 million barrels per day, the highest level in two and a half years, indicating that" only five countries Of the 22 countries participating in the alliance, they already reduced production last month.
    The 13-nation Organization of the Petroleum Exporting Countries produced 29.72 million bpd, down 30,000 bpd from September, while Russia and eight other allies pumped 13.51 million bpd, up 250,000 bpd.
    On October 5, OPEC+ agreed to cut production quotas by 2 million barrels per day from November, saying it was a "technical decision" aimed at avoiding the impact of a potential global recession, even as the European Union prepared to start a ban on crude imports. Russian on the fifth of December.
    But the move angered the US administration, accusing the alliance of endangering the global economy and helping fund the Russian war in Ukraine.
    According to the survey, Iraq managed to increase 80,000 barrels per day to reach 4.58 million barrels per day, as exports rose to their highest levels in several years, indicating that Iraq's exports of crude oil are dangerously close to their full capacity in its southern ports, with limited space. In storage facilities, which limits further production.
    Non-OPEC Kazakhstan posted the biggest increase in the month, as production rebounded by 180,000 bpd to 1.40 million bpd.
    Russian crude production recovered to a seven-month high last month, pumping 9.85 million barrels per day in October, an increase of 80,000 barrels per day, supported by higher crude exports and refining operations.
     

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    Added 11/09/2022 - 9:06 AM
    Update 11/09/2022 - 2:01 PM


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