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Iran, Iraq asked to Freeze Oil Output at Current Levels
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November 18, 2016 in [You must be registered and logged in to see this link.]
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November 18, 2016 in [You must be registered and logged in to see this link.]
By John Lee.
Qatar’s Energy Minister has reportedly said that [You must be registered and logged in to see this link.]and Iraq are being asked to freeze oil output at current levels, as part of a wider deal to restrain production.
According to ArabianBusiness.com, Mohammed Al Sada told reporters:
“We are discussing with both countries on that and we are looking at various ways and means of coming to a mutual understanding.”
Industry sources, and documents seen by Reuters, suggest that Iraq would have to compensate international oil companies (IOCs) for any limits placed on their production, compounding the financial hit of losing much-needed oil revenue.
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