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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Iraq is the largest producer.. OPEC+ is pumping higher than scheduled and in anticipation of the Jun

    Rocky
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    Iraq is the largest producer.. OPEC+ is pumping higher than scheduled and in anticipation of the Jun Empty Iraq is the largest producer.. OPEC+ is pumping higher than scheduled and in anticipation of the Jun

    Post by Rocky Sun 12 May 2024, 6:44 am

    Iraq is the largest producer.. OPEC+ is pumping higher than scheduled and in anticipation of the June meeting

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    Economy News _ Baghdad
    OPEC+ crude oil production decreased by 210,000 barrels per day on a monthly basis, to 41.04 million barrels per day last April.
    This came according to a survey conducted by S&P Global Commodity, as Russia began implementing a deeper production cut amid a series of Ukrainian drone attacks on its refineries.
    However, this decline is unlikely to be enough to calm tensions over compliance, with Russia failing to meet its target, and Iraq and Kazakhstan continuing to produce quantities well above their quotas, according to the survey.
    However, this decline is unlikely to be enough to calm tensions over compliance, with Russia failing to meet its target, and Iraq and Kazakhstan continuing to produce quantities well above their quotas.
    The two countries exceeded excess production by nearly 1 million barrels per day in early 2024, and committed to compensate for this between May and the end of December 2023, and these plans were adjusted depending on future production and OPEC+ policy decisions based on the data.
    Iraq and Kazakhstan continued to produce beyond quotas, despite their pledge to compensate for their surplus production in early 2024.
    As for the June meeting, the production data for last April will be the talk available to OPEC+ ministers when they meet to determine production levels, and analysts expect the group to extend the current quotas and voluntary cuts.
    Iraq produced above its quota last April, when production reached 4.24 million barrels per day, a decrease of only 4%, compared to the previous month, which amounted to 4.28 million barrels per day. Thus, it produced above its quota by 240 thousand barrels per day.


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