Oil Minister: we're going to increase production this year and the return of our expo
Oil Minister: we're going to increase production this year and the return of our exports is not affected Iran
Oil Minister Adel Abdul Mahdi said on Thursday that Iraq would go ahead with his plan to increase oil production this year, "pointing to" the arrival of exports to the level of a record in January and not affected by the return of Iran to the market. "
He said Abdul-Mahdi said in an interview with Reuters, Iraq's second-largest producer of the Organization of Petroleum Exporting Countries [OPEC] "expected growth in oil production south of the country, including up to 400 thousand barrels per day this year to more than four million barrels a day."
He added that "Iraq will display prices competitive marketing the additional production of crude, "referring to" enter into contracts with oil refineries tray cover the whole of 2016 ".
He said Abdul-Mahdi," In fact we are in Iraq is no shortage of decades, yet demand for our oil is more than we are introducing, even with the return of Iran. " .
"The Iraqi oil will remain cheap for China, and our contracts for all of 2016 filled," noting that "" the average cost of extracting oil from southern Iraq nearly ten dollars a barrel.
"He said that raising the price of oil now will require from OPEC and independent producers to agree on curbing production, He explained, that "Iraq will support an emergency meeting of OPEC if the organization has been able to reach an agreement to cut production in coordination with independent producers."
He noted Abdul-Mahdi to, that "if impossible to reach such an agreement would have to be for OPEC to refrain from holding an extraordinary meeting in order not to cause further From the landing of prices ".anthy http://www.alliraqnews.com/modules/news/article.php?storyid=27859