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[size=36]Oil: Iraq fully committed to voluntary production cut[/size]
Economy | 10:55 - 07/13/2024
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Baghdad - Mawazine News
The Ministry of Oil confirmed, on Saturday evening, Iraq's commitment to the voluntary cuts agreed upon in OPEC, noting that Iraq will compensate for any surplus in production at the beginning of next year.
The ministry stated, in a statement received by Mawazine News Agency, that "the estimates of secondary sources regarding Iraq's production increase over the quota stipulated in the OPEC agreement and the countries allied with it in the Declaration of Cooperation, amounted to 148 thousand barrels per day for the month of June 2024."
The Iraqi Ministry of Oil confirmed, according to its statement, that it will adhere to the production level required in the agreement, which amounts to 4 million barrels per day, for the month of July and the coming months, in addition to compensating for the surplus in production since the beginning of the year during the compensation period, which extends until the end of September 2025.
The Ministry of Oil confirmed, on Saturday evening, Iraq's commitment to the voluntary cuts agreed upon in OPEC, noting that Iraq will compensate for any surplus in production at the beginning of next year.
The ministry stated, in a statement received by Mawazine News Agency, that "the estimates of secondary sources regarding Iraq's production increase over the quota stipulated in the OPEC agreement and the countries allied with it in the Declaration of Cooperation, amounted to 148 thousand barrels per day for the month of June 2024."
The Iraqi Ministry of Oil confirmed, according to its statement, that it will adhere to the production level required in the agreement, which amounts to 4 million barrels per day, for the month of July and the coming months, in addition to compensating for the surplus in production since the beginning of the year during the compensation period, which extends until the end of September 2025.
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