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Expert: The "OPEC +" agreement prevented Iraq from reaching the fourth rank in global oil production
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Economy News - Baghdad
The economist, Hamza Al-Jawahiri, said that Iraq can overtake Canada, which produces the same amount
4.665 million barrels per day, as it has the ability to reach 4.850 or 4.900 million barrels per day, and thus ranks fourth in the world.
Al-Jawahiri explained, "The reduction that took place by the (OPEC Plus) organization made Iraq produce an average of 4.260 million barrels per day, which prevented it from reaching that rank."
He added, "The United States came first, according to the report, at a rate of 11.567 million barrels per day, by adding nearly two million barrels of strategic oil reserves per day in order to reduce prices, which was actually achieved by decreasing the price of a barrel from $100 to about $92." Where very large quantities were pumped."
He pointed out that "(OPEC) has deliberate decisions to control production in order to adjust the rhythm of oil markets in the world and maintain its stability."
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Added 11/17/2022 - 7:31 PM
Updated 11/18/2022 - 1:26 PM
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Economy News - Baghdad
The economist, Hamza Al-Jawahiri, said that Iraq can overtake Canada, which produces the same amount
4.665 million barrels per day, as it has the ability to reach 4.850 or 4.900 million barrels per day, and thus ranks fourth in the world.
Al-Jawahiri explained, "The reduction that took place by the (OPEC Plus) organization made Iraq produce an average of 4.260 million barrels per day, which prevented it from reaching that rank."
He added, "The United States came first, according to the report, at a rate of 11.567 million barrels per day, by adding nearly two million barrels of strategic oil reserves per day in order to reduce prices, which was actually achieved by decreasing the price of a barrel from $100 to about $92." Where very large quantities were pumped."
He pointed out that "(OPEC) has deliberate decisions to control production in order to adjust the rhythm of oil markets in the world and maintain its stability."
392 views
Added 11/17/2022 - 7:31 PM
Updated 11/18/2022 - 1:26 PM
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