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.

Join the forum, it's quick and easy

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

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

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


    Reuters: Iraq still accounts for the largest part of OPEC's excess production

    Rocky
    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 277200
    Join date : 2012-12-21
    • Post n°1

    Reuters: Iraq still accounts for the largest part of OPEC's excess production Empty Reuters: Iraq still accounts for the largest part of OPEC's excess production

    Post by Rocky Sat 03 Aug 2024, 4:47 am

    Reuters: Iraq still accounts for the largest part of OPEC's excess production

    [You must be registered and logged in to see this image.]



    [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.]


     
    OPEC oil output rose in July on a rebound in Saudi supplies and small increases elsewhere, a Reuters survey showed on Friday, offsetting the impact of ongoing voluntary supply cuts from other members and the wider OPEC+ alliance.
    The survey, based on shipping data and information from oil industry sources, showed that OPEC pumped 26.70 million barrels per day last month, up 100,000 bpd from June.
    The increase comes despite the OPEC+ alliance, which includes OPEC and allies including Russia, maintaining most production cuts until the end of 2025 to support the market in the face of tepid demand growth, rising interest rates and increased US production.
    A meeting of senior OPEC+ ministers on Thursday left oil production policy unchanged, including a plan to start unwinding a tranche of output cuts from October.
    The ministers stressed that this increase could be temporarily halted or reversed if necessary.
    The survey found that Saudi Arabia provided the biggest boost to supplies last month, by 70,000 barrels per day, as exports rebounded from June when they were lower than expected. Output reached 9 million barrels per day in July, close to the kingdom’s target.
    The survey showed that Nigeria recorded the largest decline of 30,000 barrels per day, with exports declining on a monthly basis.
    Libya and Iran, two members not required to cut output, along with Iraq, recorded slight increases. The survey found that Iran’s output reached 3.22 million barrels per day, the highest since 2018, according to Reuters surveys.
    Iran has boosted its exports in recent years despite continued U.S. sanctions. Iraq’s output has risen as exports have increased month-on-month, oil flow data and a tanker-tracking source showed.
    The survey also said that OPEC exceeded the target assumed for the nine countries covered by the supply reduction agreements by about 240 thousand barrels per day, and that Iraq still represents the largest part of the excess production.
    The Reuters survey aims to track supply to the market and is based on shipping data provided by external sources, flows data from the London Stock Exchange Group, information from firms that track flows, such as Petro-Logistics and Kpler, and information provided by sources at oil companies, OPEC and consultants.


    101 views
    Added 2024/08/03 - 10:12 AM
    [You must be registered and logged in to see this link.]
    • Back to top
      Current date/time is Mon 09 Sep 2024, 4:47 am