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Iraqi Oil Minister: We plan to raise production to 8 million barrels per day DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Iraqi Oil Minister: We plan to raise production to 8 million barrels per day

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Iraqi Oil Minister: We plan to raise production to 8 million barrels per day Empty Iraqi Oil Minister: We plan to raise production to 8 million barrels per day

Post by claud39 on Tue Jan 14, 2020 8:27 am

Iraqi Oil Minister: We plan to raise production to 8 million barrels per day




14/01/2020




Iraqi Oil Minister: We plan to raise production to 8 million barrels per day Rc_157898754213_23



Iraqi Oil Minister Thamer Al-Ghadban said on Monday that Iraq plans to raise the production capacity of crude oil to between 6 to 8 million barrels per day during the next two decades.

Al-Ghadban added, in statements published by the official website of the Iraqi Ministry of Oil: “The ministry is proceeding to achieve a technological, economic, administrative and human shift, through proper work and planning to upgrade the national content, in order to keep pace with the great development in the global oil industry, as well as requirements for upgrading oil and gas production levels in Iraq, where it is planned to reach rates from 6 to 8 million barrels in the next two decades ». The crude oil production levels currently in Iraq are more than 4 million and 450 thousand barrels per day.

Oil prices stabilized yesterday, with concerns about the dispute between the United States and Iran receding, while investor interest shifted to the signing of a preliminary trade agreement between the United States and China this week, which will boost economic growth and demand.

Brent crude, the global benchmark, rose to 64.99 dollars a barrel by 07:37 GMT, while West Texas Intermediate crude increased five cents to 59.09 dollars a barrel compared to the previous session.

Oil prices rose to their highest levels in nearly four months after a US drone strike killed an Iranian military commander and responded by firing missiles at US bases in Iraq. But prices fell again as Washington and Tehran retreated, after they oversaw the slide of direct conflict.


 Brent touched global benchmark $ 71.75 a barrel last week, before closing on Friday below $ 65. "The possibility of a war between the United States and Iran has vanished ... For this week, the signing of the trade agreement between China and the United States will lead to a rise in oil prices thanks to expectations of increased demand," said Kim Quang-ray, a commodity analyst at Samsung Futures in Seoul, according to Reuters. .

The first phase of the trade agreement between Washington and Beijing is expected to be signed tomorrow, Wednesday, which would calm the financial and oil markets together.






http://www.uabonline.org/en/news/arabicnews/16081586161015851575160416061601159115751604159315/71778/0
claud39
claud39
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