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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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Iraq plans to increase its exports to 3.6 million barrels next year

rocky
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Iraq plans to increase its exports to 3.6 million barrels next year Empty Iraq plans to increase its exports to 3.6 million barrels next year

Post by rocky Wed 30 Nov 2022, 5:45 am

Iraq plans to increase its exports to 3.6 million barrels next year

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Economy News-Baghdad
Today, Tuesday, the Iraqi Oil Marketing Company "SOMO" revealed plans to increase the daily export rate to 3.6 million barrels per day next year.
"The OPEC Plus group will meet at the beginning of next month to discuss the market situation based on its data," noting that "a decision has been taken to reduce production by about two million barrels per day, starting from From this November, and this decision will be applied throughout the next year.
He added, "This decision is flexible and depends on assessing the reality of the market," noting that "Iraq has a plan to increase exports by 250 thousand barrels per day at the beginning of the second half of next year, so that the daily export rate will be 3 million and 600 thousand barrels per day instead of 3 million and 350." 1,000 barrels per day now.
He continued, "There is another plan that includes replacing the marine pipelines, which will raise the export rate to 900,000 barrels per day," explaining that "a third plan has been put in place regarding the Japanese loan and Khor Al-Zubayr, which will increase by 900,000 barrels per day."
He stressed that "the increase in the last two plans that were mentioned will be about one million and 800 thousand barrels per day, which will be added to 3 million and 600 thousand barrels per day, bringing the total export total to 5 million and 500 thousand barrels per day," pointing out that "the average price of oil for this year is $97."
Regarding the companies that import Iraqi oil, Mohsen said, "There is a long list of international companies that buy Iraqi oil, and all of them are solid companies in the Asian, American and European markets, including solid Chinese companies."
On the position of OPEC Plus on export, he indicated that "OPEC Plus has nothing to do with the issue of export," explaining that "Iraq belongs to the organization to determine the amount of production, but we can export any quantity, taking into account the volume of oil produced."
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Added 11/29/2022 - 9:54 PM
Updated 11/30/2022 - 2:26 PM


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