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Parliamentary Economy: Iraq has a golden opportunity to increase its oil production

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Parliamentary Economy: Iraq has a golden opportunity to increase its oil production Empty Parliamentary Economy: Iraq has a golden opportunity to increase its oil production

Post by claud39 on Sat Jun 01, 2019 1:06 pm

Parliamentary Economy: Iraq has a golden opportunity to increase its oil production


01/06/2019





Parliamentary Economy: Iraq has a golden opportunity to increase its oil production %D9%85%D9%8A%D8%AB%D8%A7%D9%82-%D8%A7%D9%84%D8%AD%D8%A7%D9%85%D8%AF%D9%8A1-696x435










Information / Special ...
BAGHDAD (Reuters) - The Iraqi government has a golden opportunity to increase oil production within the Organization of the Petroleum Exporting Countries (OPEC), the parliamentary committee on economy and investment said on Saturday, pointing out that Saudi Arabia is unable to meet the needs of markets after cutting production.
"Saudi Arabia's decline in oil production gave Iraq a golden opportunity to increase its oil production within the Organization of Petroleum Exporting Countries," said a member of the committee, the charter of Ibrahim. "Saudi Arabia blocked the shortage of Iraq when the US sanctions were imposed in the 1990s and refused to reclaim its share. After the end of sanctions despite the continuing claims. "
"The government is obliged to negotiate with OPEC to increase Iraq's production and use the current time to achieve a stable economy for the country," adding that " tension between Tehran and Washington will push oil prices to rise in the coming days."
"The government will use the surplus of oil money to support the productive and agricultural sectors to eliminate unemployment."
Saudi Arabia raised production in May, but not enough to offset the drop in Iranian exports after the United States tightened sanctions on Tehran, a Reuters survey found on Saturday. End 25 T



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Parliamentary Economy: Iraq has a golden opportunity to increase its oil production Empty Saudi Arabia failed to compensate for Iranian oil exports

Post by claud39 on Sat Jun 01, 2019 1:08 pm

Saudi Arabia failed to compensate for Iranian oil exports


 01/06/2019





Parliamentary Economy: Iraq has a golden opportunity to increase its oil production %D8%A7%D9%84%D9%86%D9%81%D8%B7-%D8%A7%D9%84%D8%A7%D9%8A%D8%B1%D8%A7%D9%86%D9%8A-696x387










Information / Baghdad ..



A Reuters survey found that Saudi Arabia raised production in May, but not enough to compensate for the drop in Iranian exports after the United States tightened sanctions on Tehran.
The survey showed OPEC countries produced 30.17 million bpd in May, down 60,000 bpd from April.May production was the lowest level for OPEC since 2015.
The survey indicates that despite Saudi Arabia's increased production, it is still producing less voluntarily than an OPEC-led production agreement is in place this year.
"We see a drop in OPEC supply in May to its lowest level in many years. There is not a lot of big increases this month, the production of a lot of countries decreased.
Despite falling supplies, crude oil fell from a six-month high above $ 75 a barrel in April to below $ 68 on Thursday, under pressure from concerns over the economic impact of the US-China trade dispute.
"Most countries have curbed production in May, although they probably sought to boost sales in the fastest-growing Asian market," an OPEC delegate said, noting that "producers may change their supply portfolio to target Asia without increasing production in general."
The Opec Plus alliance, which includes OPEC members, Russia and other independent producers, agreed in December to cut output by 1.2 million bpd as of January 1.
Opec's quota of 800,000 barrels per day (bpd) is borne by 11 member states, with the exception ofIran Libya and Venezuela.
Producers are scheduled to meet in June to decide whether to extend or amend the agreement.
The survey found that in May, 11 Opec countries committed to the agreement achieved 96 per cent of targeted cuts, compared to 132 per cent in April, as a result of rising Saudi production and increases in the supply of Iraq and Angola. Ending / 25



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