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[size=36]Iraq announces an additional voluntary reduction in oil by 211 thousand barrels per day[/size]
Economy | 09:45 - 11/30/2023
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Baghdad - Mawazine News
The Ministry of Oil announced today, Thursday, the addition of its voluntary reduction in oil production by 211 thousand barrels per day.
The ministry said in a statement, “Iraq will make an additional voluntary reduction of 211,000 barrels per day, starting from January 1, 2024, until the end of March 2024, in coordination with some countries participating in the OPEC Plus agreement.”
The statement explained, "Iraq's production will be 4,009 million barrels per day, until the end of March 2024, after which, in support of market stability, these additional reduction amounts will be restored gradually, according to market conditions."
He added, "This voluntary reduction is in addition to the voluntary reduction of 211,000 barrels per day, which Iraq previously announced in April 2023, and which will continue until the end of December 2024."
He continued, "This additional voluntary reduction comes to strengthen the precautionary efforts made by OPEC Plus countries with the aim of supporting the stability and balance of oil markets."
The Ministry of Oil announced today, Thursday, the addition of its voluntary reduction in oil production by 211 thousand barrels per day.
The ministry said in a statement, “Iraq will make an additional voluntary reduction of 211,000 barrels per day, starting from January 1, 2024, until the end of March 2024, in coordination with some countries participating in the OPEC Plus agreement.”
The statement explained, "Iraq's production will be 4,009 million barrels per day, until the end of March 2024, after which, in support of market stability, these additional reduction amounts will be restored gradually, according to market conditions."
He added, "This voluntary reduction is in addition to the voluntary reduction of 211,000 barrels per day, which Iraq previously announced in April 2023, and which will continue until the end of December 2024."
He continued, "This additional voluntary reduction comes to strengthen the precautionary efforts made by OPEC Plus countries with the aim of supporting the stability and balance of oil markets."
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