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Iraq's July oil output rises despite pledge to cut
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Economy News - Baghdad
[rtl]OPEC data based on secondary sources showed that Iraq failed to comply in July with its commitments to cut oil production, a compensatory cut, while Kazakhstan cut its output by more than promised.[/rtl]
[rtl]Secondary sources estimated Iraqi production in July at 4.251 million barrels, an increase of about 57 thousand barrels compared to June levels.[/rtl]
[rtl]At the end of last July, Iraq, Russia and Kazakhstan submitted to the Organization of the Petroleum Exporting Countries (OPEC) a plan to make “compensatory cuts” during the specified period ending in September 2025, according to a statement published by the organization. [/rtl]
[rtl]As part of this plan, Iraq pledged in July to cut 70,000 barrels per day, Kazakhstan pledged to cut 18,000 barrels per day, while Russia will begin cutting production by about 10,000 barrels per day from October.[/rtl]
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Added 2024/08/13 - 1:02 PM
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Economy News - Baghdad
[rtl]OPEC data based on secondary sources showed that Iraq failed to comply in July with its commitments to cut oil production, a compensatory cut, while Kazakhstan cut its output by more than promised.[/rtl]
[rtl]Secondary sources estimated Iraqi production in July at 4.251 million barrels, an increase of about 57 thousand barrels compared to June levels.[/rtl]
[rtl]At the end of last July, Iraq, Russia and Kazakhstan submitted to the Organization of the Petroleum Exporting Countries (OPEC) a plan to make “compensatory cuts” during the specified period ending in September 2025, according to a statement published by the organization. [/rtl]
[rtl]As part of this plan, Iraq pledged in July to cut 70,000 barrels per day, Kazakhstan pledged to cut 18,000 barrels per day, while Russia will begin cutting production by about 10,000 barrels per day from October.[/rtl]
Views 2
Added 2024/08/13 - 1:02 PM
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