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Agency: Iraq pumped more than its targets despite the voluntary oil reduction in OPEC
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2024-02-01 04:42
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2024-02-01 04:42
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Shafaq News/ Reuters news agency revealed today, Thursday, that despite the voluntary oil cuts from OPEC members within the framework of the new round, Iraq pumped much higher than its target in the first quarter last month.
The agency stated in its report, “OPEC’s oil production last month recorded the largest monthly decline since July, as several members implemented new voluntary production cuts agreed upon with the broader OPEC+ alliance, and the unrest curbed Libyan production.”
She [You must be registered and logged in to see this link.] "Saudi Arabia made an additional voluntary cut, and the survey found that production in January was 214,000 barrels per day higher than OPEC's implicit target, largely because Iraq, Nigeria, and Gabon pumped more than their targets."
The agency continued, "Iraq and Kuwait reduced their production by 140,000 barrels per day as part of the new round of voluntary cuts, although Iraq's production is still 141,000 barrels per day higher than the target that the country announced for the first quarter."
The agency stated in its report, “OPEC’s oil production last month recorded the largest monthly decline since July, as several members implemented new voluntary production cuts agreed upon with the broader OPEC+ alliance, and the unrest curbed Libyan production.”
She [You must be registered and logged in to see this link.] "Saudi Arabia made an additional voluntary cut, and the survey found that production in January was 214,000 barrels per day higher than OPEC's implicit target, largely because Iraq, Nigeria, and Gabon pumped more than their targets."
The agency continued, "Iraq and Kuwait reduced their production by 140,000 barrels per day as part of the new round of voluntary cuts, although Iraq's production is still 141,000 barrels per day higher than the target that the country announced for the first quarter."
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