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Neno's Place Established in 2006 as a Community of Reality


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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


    Half a million barrels will be stopped.. OPEC debt has become "heavy" for Iraq due to Kurdistan comp

    Rocky
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    Half a million barrels will be stopped.. OPEC debt has become "heavy" for Iraq due to Kurdistan comp Empty Half a million barrels will be stopped.. OPEC debt has become "heavy" for Iraq due to Kurdistan comp

    Post by Rocky Sat 10 Aug 2024, 4:18 am

    [size=35][size=35]Half a million barrels will be stopped.. OPEC debt has become "heavy" for Iraq due to Kurdistan companies[/size]
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    economy

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    2024-08-10 | 02:35
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    Alsumaria News - Economy

    Economic data revealed that Iraq exceeded its oil production quotas last July "again", despite the pledge to compensate for its surplus production throughout the first half of this year.


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    According to data from the Argus Media oil tracking platform, Iraq's crude oil production increased by 160,000 barrels per day, recording 3.99 million barrels per day in July 2024, excluding what is produced in Kurdistan outside the plans, which amounts to about 375,000 barrels per day, while the data indicates that the total production of Iraq and Kurdistan amounts to 4.3 million barrels per day, while Iraq's production share with Kurdistan should only amount to 4 million barrels per day.



    In June 2024, Iraq's oil production reached 4.2 million barrels per day, compared to 4.1 million barrels per day in May 2024, including approximately 250,000 to 300,000 barrels per day from the Kurdistan Region.

    Iraq's surplus production during the first half of this year is 1.184 million barrels per day, and while Iraq and Russia agreed to compensate for the surplus from July 2024 to December 2025, this means that Iraq must reduce its production by 65,000 barrels per day to compensate for the previous surplus, and then adhere to its current quota, which requires Iraq to reduce its production by the same amount as the Kurdistan Region, which is 375,000 barrels per day, meaning that Iraq's production in the center and south of the country should not exceed 3.6 million barrels, meaning that Iraq must stop producing about half a million barrels per day from its fields to achieve OPEC's target.
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