Iraq supported the convening of an emergency meeting of OPEC countries to exceed thei
Iraq supported the convening of an emergency meeting of OPEC countries to exceed their quotas accuse
1/26/2016 0 Comments
Supported the convening of an emergency meeting of OPEC countries in light of the decline of crude prices in world markets, a senior official in the Iraqi Oil Ministry said Iraq.
He said Undersecretary Fayyad grace told all of Iraq [where] that "Iraq does not want to pay the price cut output and if he got a deal to OPEC thus also subject understanding with them, but we are not willing sacrifice Iraq customers to feature the quality of its oil, which has markets in all countries of the world."
And he asked whether Iraq supports the reduction of quotas OPEC countries blessing "It is invited to review their quotas being out of the quota allocated to them either Iraq Fmltzm and works in accordance with the agreed basis of the organization despite being a non-specific quotas."
On the call for an emergency meeting of OPEC to review oil prices, said Undersecretary of the Iraqi Ministry of Oil that "any call lead to the improvement of the oil market, we are with them."
He pointed out that "Iraq's ambition for this year's production of 4.5 million barrels, which includes the production fields of the Kurdistan region," noting that "the current rate of our production without the province 3.7 million barrels."
"The oversupply of oil in the market affect the price but there is an increasing demand for Iraqi oil which is more than production," he said. "We meet global market demands, both in Southeast Asia and Europe and America."
The agent said the Oil Ministry that "the price drop is not about just supply and demand, but there are decisions to big producers weighed on the market," adding that "Iraq is not included in determining the oil quota in OPEC, but Saudi Arabia, Iran and the United Arab Emirates, Algeria and Nigeria are included and there is a disparity between producers in OPEC and outside and forgotten the decisions political influence. "
Grace and revealed "an invitation to Iraq understandings on oil quotas but unfortunately the top producers refused to obey it and they have another point of view." Without specifying from these countries.
And it escalated on Monday the pace of ambiguous statements from senior oil officials OPEC and Russia for joint action to address the oversupply of crude oil is the worst in decades, while Saudi Arabia indicated its intention to leave the market to regain self-balance.
He also supported other countries rejected the need for OPEC to hold an emergency meeting.
A senior Iraqi oil official said on Monday, told Reuters on condition of anonymity that Iraq has continued to increase its production of oil production this year south of the country for up to four million barrels Aumia.