OPEC declares its readiness to accommodate increased Iraqi oil exports
OPEC declares its readiness to accommodate increased Iraqi oil exports
Tuesday, January 28th, 2014 11:06
Baghdad / follow Baghdadi News / detect the Secretary General of the Organization of Petroleum Exporting Countries “OPEC” Abdullah al-Badri, on Tuesday, said the organization will absorb about Iraq’s production, which is expected to raise its production and export, as well as both Iran and Libya.
It was Iraq, recently announced that it is seeking to increase its oil production to more than four million barrels per day in 2014, with Oil Minister Abdul Karim and coffee on the status of plans could raise its oil exports to 3.4 million barrels per day, including 400 thousand barrels from fields in the Kurdistan region.
Badri said during an oil conference followed the details / Baghdadi News / “If the other members of OPEC would cut production to make room for increased supply from Iraq, Iran and Libya, we Snstoabh when it comes,” adding, “We faced a lot of problems in the past we have been able to overcome them and will overcome this too “.
He added, “The OPEC members know their shares of the total production ceiling of the organization of 30 million barrels per day.”
The decline in OPEC output over the past year due to strikes and protests in Libya and violence and bad weather in Iraq; addition to sanctions against Iran.
And increased Arabia is the largest producer in the Organization and with the United Arab Emirates and Kuwait, supplies to make up the shortfall caused by the disruption of production in Libya and elsewhere. Finished / Agencies
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