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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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    OPEC production declined due to the Kurdistan Region's oil outages

    Rocky
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    • Post n°1

    OPEC production declined due to the Kurdistan Region's oil outages Empty OPEC production declined due to the Kurdistan Region's oil outages

    Post by Rocky Sat 01 Apr 2023, 5:06 am

    OPEC production declined due to the Kurdistan Region's oil outages

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    Economy News-Baghdad
    A Reuters survey showed, on Saturday, that OPEC oil production decreased last March, due to the maintenance of oil fields in Angola and the suspension of some Iraqi exports, which increases the impact of the commitment of major producers to cut supplies.
    The survey found that the Organization of the Petroleum Exporting Countries (OPEC) pumped 28.90 million bpd last month, down 70,000 bpd from February.
    The Organization of the Petroleum Exporting Countries and its allies, "OPEC Plus", had agreed to cut production in late 2022 to support the market with the deterioration of the economic outlook and weak prices.
    According to Reuters, it is expected that the meeting of senior “OPEC +” ministers next Monday will confirm the same current policy.
    And with setbacks in Iraq and Angola last month, compliance with the deal increased to 173% of pledged cuts, according to a Reuters survey, from 169% in February.
    The decrease in Iraqi oil comes as a result of companies reducing their production in the Kurdistan Region, after the export pipeline stopped last Saturday, but the increase in exports from southern Iraq limited the decline.
    Turkey stopped pumping Iraqi oil through the port of Ceyhan last Saturday morning, which constitutes (half percent) of global oil supplies, after the decision of the International Arbitration Court in Paris, that Turkey violated the agreement with Iraq, through its direct oil trade with the Kurdistan Regional Government since the year 2013.

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    Added 04/01/2023 - 9:58 AM


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