Expert: Failure to stop oil smuggling puts us in serious economic dangers
Expert: Failure to stop oil smuggling puts us in serious economic dangers
1-29-2025
Information / Baghdad..
Oil expert Hamza Al-Jawahiri confirmed on Wednesday that the continuation of oil smuggling operations will put Iraq in front of serious economic risks by deducting its share of oil production determined by the Organization of the Petroleum Exporting Countries (OPEC).
Al-Jawahiri said in a statement to Al-Maalouma Agency, “The issue of smuggling oil from the region abroad has expanded, which has contributed to increasing the supply of oil in the oil market and has contributed in one way or another to reducing prices.”
He added, “The continuation of smuggling operations without government deterrence will pose serious risks to the national economy in two ways. The first is that the Organization of the Petroleum Exporting Countries will calculate the smuggled oil from the oil production quota specified by the organization.”
Al-Jawahiri called on the government to take “strict measures to prevent its continuation.”
It is noteworthy that semi-official reports indicate that the amount of oil smuggled from the borders of the region to abroad is estimated at between 250 and 400 thousand barrels per day by tankers.
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