Iraq calls for OPEC to maintain oil production levels

by **Rocky** Wed 26 Oct 2016, 2:20 am

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Post n°1

Iraq calls for OPEC to maintain oil production levels

by Rocky Wed 26 Oct 2016, 2:20 am

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Iraq calls for OPEC to maintain oil production levels

 Baghdad / term

The Oil Ministry announced, on Tuesday, the arrival of the president of the Organization ofPetroleum Exporting Countries to Iraq, while stressing the importance of the role of Iraq , the stability of the world oil market as thesecond product of oil in the organization.
The spokesman said the ministry , Assem Jihad , in a statement received "long", a copy of it, "Prime OPEC Mohammed Sanusi Barkindo arrived in Iraq on an official two - day visit to discuss with the Ministry of oil on oil markets. "
He stressed Barkindo" the importance of Iraq , the stability of the oil market as the second largest in terms ofproduction within OPEC , "noting that" Iraq is an active and important country and shareholders founded theorganization, as he hosted the first meeting of the organization in the early sixties of the last century. "
he added that" Iraq will have an impact not only within the organization but also in the world thanks to its wealth and a large legacy , "explaining that" my visit comes to support one of the largest exporters and producers in within the organization. " For his part, Jihad pointed out that "Barkindo responsive touchscreen with the Oil Ministry officials in Iraq to support the organization 's efforts to reach informed decisions serve producers and lead to a global oil market stability." While expressing Oil Minister Jabbar Ali Hussein Allaibi "optimism to reach producers to decisions that serve and support the oil market , " explaining that "Iraq isone seeking to support the efforts of Secretary General of the Organization of rounding to the views between producers inside and outside the organization." He Allaibi that "Iraq is always seeking to stabilize the oil market and create some kind of balance between supply and demand, in addition to the convergence of views among all the producing parties, which is what he has done already during the last meeting of theorganization in Algeria to the convergence of views between Saudi Arabia and Iran." Among Allaibi that "Iraq calls always right natural levels of current production which amounts to 4.774 million barrels per day."

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by **Rocky** Wed 26 Oct 2016, 3:53 am

Rocky

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Post n°2

Iraq is exporting more oil this month, despite OPEC output cut plans

by Rocky Wed 26 Oct 2016, 3:53 am

[ltr]Iraq is exporting more oil this month, despite OPEC output cut plans
[/ltr]
[ltr][rtl]History[/rtl] of [rtl]edits:: 2016/10/25 20:22 • 112 visits readable[/rtl][/ltr]
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[Oan- follow-up]
Data load ships and shipping industry source reports that Iraqi crude exports tend to rise slightly in October, which gives an indication that OPEC's agreement to impose restrictions on the supply has not yet shipments from the second largest producer of the Organization brakes.
Iraq was and the other members of the Organization of the Petroleum Exporting Countries had reached last month to first deal to cut production in eight years in order to strengthen prices, but Iraq called last Sunday to Baghdad exemption to join the list of members seeking to gain special treatment.
Shipping data monitored by Reuters and the source of the sector shows that the average exports from southern Iraq in the first twenty-five days of October totaled 3.31 million barrels per day, up from 3.276 million barrels a day last month, according to figures from Iraq.
The source said, which tracks tanker "very strong export shipments."
And pumped south most of Iraq's oil, which is smaller than the crude exported volumes from the north through a pipeline to Turkey.
According to the source data loading and reached North shipments from fields located in the semi-autonomous Kurdistan region ore 580 thousand barrels per day on average in October, the average of those exports 595 thousand barrels per day in September.
So far, Iraqi crude exports stood at 3.89 million bpd in October. If that continues, it will be the highest of 20 thousand barrels per day from September, total exports, according to figures given by Iraqi officials on Sunday in his first news conference.
Oil prices of around 51 dollars a barrel currently, or half of its level in mid-2014, partly due to a glut in the supply lasted for a longer period of analysts' expectations, partly because of record high production of the fourteen members of the OPEC nation.
Although the framework agreement reached by the OPEC in Algeria on 28 September, the organization has increased production in that month, according to figures and faces a final agreement is expected to be concluded during the next meeting on 30 November to a number of challenges.
Among those challenges, how to accommodate potential increases from Iran, Libya and Nigeria, which is hesitant to rein in production after penalties or influenced by conflicts.
A spokesman for the oil ministry said Iraq told a senior OPEC said Tuesday that he hopes the agreement raises oil prices while maintaining the level of production.

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Iraq calls for OPEC to maintain oil production levels

Iraq calls for OPEC to maintain oil production levels

Iraq is exporting more oil this month, despite OPEC output cut plans

Iraq is exporting more oil this month, despite OPEC output cut plans

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