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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 supported the limited freeze on production of OPEC plans to increase its annual production

    Rocky
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    • Post n°1

    Iraq supported the limited freeze on production of OPEC plans to increase its annual production Empty Iraq supported the limited freeze on production of OPEC plans to increase its annual production

    Post by Rocky Fri 09 Sep 2016, 3:48 am

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    Oil marketing company SOMO
    Iraq supported the limited freeze on production of OPEC plans to increase its annual production


    Author: HAA, HH 
    Editor: BK, HH 9/8/2016 17:58 Number ofViews: 943 



    Long-Presse / Baghdad
    Showed the Iraqi Oil Marketing Company (SOMO) on Thursday, supported Iraq to freeze oil production for a limited period in order to raise crude prices, as revealed inform him of the Organization of Petroleum Exporting Countries (OPEC) ceiling of expected production if the members agree on, it confirmed its intention to continue to increase its annual production in the short term, at a rate of 100 to 150 thousand barrels per day.
    The Director-General of the Oil Marketing Company (SOMO), Falah al-Amiri, in statements from Singapore to site Bloomberg (Bloomberg A round) US economic news, followed (the long-Presse), said that "Iraq may support the idea of ​​freezing the production rate for a specified period," without limit ' .
    He said al-Amiri, that "the increase in production plans will be suspended if the freeze led to a rise in crude prices in the global markets," adding that "Iraq has informed the members of OPEC production ceiling in the case of agreement on a freeze."
    Director of SOMO promised, that "if the freeze resulted in an increase in oil prices would compensate the other hand not to increase production rates," stressing that "Iraq will continue to increase its annual oil production in the short term, at a rate of 100 to 150 thousand barrels a day."
    Ameri said that "Iraq does not want to flood the oil market," but he also said, "but others may seek So, from here it is not in a hurry, but wants to raise its production quietly."
    The observers expect major oil producers in the world agreement during their meeting in Algeria during September now, the joint action could lead to the identification or freeze production at certain limits, to support crude prices.
    The Oil Ministry has confirmed the (current seventh of September 2016), that Iraq's production in the event of the Organization of the members of the agreement (OPEC) to freeze production, it will be four million and 757 thousand barrels.

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