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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

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    Iraq reduces oil exports by 200,000 barrels and reduces refining.. Is the "scarcity" of kerosene the

    Rocky
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    Iraq reduces oil exports by 200,000 barrels and reduces refining.. Is the "scarcity" of kerosene the Empty Iraq reduces oil exports by 200,000 barrels and reduces refining.. Is the "scarcity" of kerosene the

    Post by Rocky Fri 06 Sep 2024, 3:43 am

    [size=35][size=35]Iraq reduces oil exports by 200,000 barrels and reduces refining.. Is the "scarcity" of kerosene the first warning?[/size]
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    economy

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    2024-09-06 | 01:42
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    Alsumaria News - Economy

    Iraq has reduced its oil production, which has led to a reduction in exports by about 6%, in addition to reducing domestic consumption, which means the consumption of refined petroleum derivatives in refineries, which may be reflected in the availability of derivatives in stations with the beginning of initial indications of a shortage in kerosene fuel, which some citizens and factory owners have begun to complain about.


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    The Ministry of Oil said in a statement that "based on the Republic of Iraq's commitment to the OPEC Plus group's decisions regarding reducing oil production, and in line with what was agreed upon during the recent visit of the Secretary-General of OPEC to Baghdad, we confirm that Iraq has reduced its oil exports to (3.3) million barrels per day starting from August 27, 2024, in addition to reducing local consumption."



    She added that "this reduction will continue during the coming months to ensure that production is within the specified quota, as well as to compensate for the additional quantities produced during the previous months."

    She explained: "Iraq also agreed today, September 5, 2024, with the other seven countries within the OPEC Plus group, to extend the additional reduction of (2.2) million barrels per day until the end of November 2024, with the gradual return of the quantities produced starting from December 1, 2024 until November 2025, with the possibility of stopping or reversing these adjustments as necessary," noting that "this measure comes within the framework of seeking to achieve balance and stability in the global crude oil market."

    Alsumaria News learned that some fuel stations recorded a shortage of kerosene fuel, as the stations were unable to supply even some government plants affiliated with the Ministry of Oil itself, represented by gas plants.

    The information indicated that Iraq had agreed to reduce refining in refineries to produce derivatives from 570 thousand barrels to 500 thousand barrels per day, in exchange for a reduction of between 100 and 200 thousand barrels per day from exports, so that the total would be at least a reduction of 170 thousand barrels per day.
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