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Before heading to OPEC .. Oil Minister expects to extend the agreement and increase rates DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Before heading to OPEC .. Oil Minister expects to extend the agreement and increase rates

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Before heading to OPEC .. Oil Minister expects to extend the agreement and increase rates Empty Before heading to OPEC .. Oil Minister expects to extend the agreement and increase rates

Post by RamblerNash on Sun Dec 01, 2019 10:50 am

Before heading to OPEC .. Oil Minister expects to extend the agreement and increase rates

Before heading to OPEC .. Oil Minister expects to extend the agreement and increase rates Story_img_5de3b959b56c7

2019/12/1 16:00

Deputy Prime Minister for Energy and Oil Minister Thamir Abbas Ghadhban reiterated Iraq's full commitment to the decision to cut production approved by the Organization of Petroleum Exporting Countries and allies outside the organization, expecting to extend the decision to reduce production for another period to be agreed upon and the possibility of increasing "It is estimated at 1.6 million barrels instead of 1.2 million barrels during the ministerial meeting to be held this week in Vienna."

"The meeting will include a review of reports and research related to the oil market and the most important challenges facing it in terms of an oil surplus and increasing the shale oil production of the states," Ghadhban said at a press conference on the eve of his departure for the OPEC ministerial meeting and the OPEC meeting. United as well as economic conflict _ China and the US , which is one of the important and influential key factors in the stability of the global oil market, and in the light of this review will be all to take the appropriate decision and what aims to achieve the balance of the oil market.

He added that " Iraq to support the resolution , which achieves our goals in the rebalancing of the oil market and lead to stability, and that Iraq has the flexibility and openness Maahakq convergence in the views of Member States in order to reach a decision aimed to achieve better stability of the oil market. "

Ghadhban pointed out that "Iraq has high flexibility in the implementation of the reduction decision to be approved from the fields produced by the national effort and does not affect the production of licensing rounds fields, noting that the ministry was able in the past few days to reach an agreement with the region on oil production and the commitment to deliver the amount (250 We have seen serious cooperation in this regard and they are committed to the specified production ceiling of 450 thousand barrels per day, which enhances the credibility of Iraq towards the Organization and the transparency of dealing with the quantities produced on the one hand, and achieve additional revenues to the Federal Treasury contribute to the Yale ratio of the budget deficit after the region's commitment to hand over 250 thousand barrels per day Oil Marketing Company SOMO. "

The oil minister explained that "the decision of the reduction, which was adopted in December 2018, achieved a rate of commitment of 100 percent, which led to the stability of oil prices, so the oil ministers in OPEC countries and outside the vision to continue this decision and increase the quantities of reduction."

https://alforatnews.com/modules/news/article.php?storyid=220988
RamblerNash
RamblerNash
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