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[size=36]OPEC calls for reducing Iraqi oil production[/size]
economy | 10:02 - 08/17/2024
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Mawazine News - Baghdad
The Parliamentary Economic Committee confirmed, today, Saturday, that OPEC's request for Iraq to reduce its oil production will harm the Iraqi economy, while revealing the goal behind the request to reduce production.
The deputy chairman of the committee, Yasser Al-Hussaini, said, "OPEC's request to reduce production greatly harms the Iraqi economy, given that Iraq depends primarily on oil, and we have warned about these concerns previously."
He added, "The country's budget is managed and based on oil imports by 95%, so any reduction in production is reflected in the economy. We called for negotiations with the organization to increase Iraqi exports and increase the production ceiling, especially with Iraq opening the Basra-Aqaba pipeline issue, which we also have disastrous observations about." He pointed out that "if OPEC proceeds with reducing production, there will be harm to the country's economy and to the development of projects." Regarding the goal of OPEC's request for Iraq to reduce its oil production, Al-Yasiri believes that "the request is political pressure from the US administration on the Iraqi government to implement its desires, including dissolving the Popular Mobilization Forces."
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