Adviser to the servants, freeze oil production positively to stop the collapse in prices

February 26, 2016 12:00
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Economic Adviser to the Prime Minister Haider al-Abadi description, the decision states members of OPEC to freeze the level of oil production at the January level as "positive and contributes to stop the collapse of oil prices" in the global market.

He said the appearance of Mohammed Saleh, said that "the freezing of OPEC to the level of oil a good decision, production and gave positive signals of the oil market, at least in halting the deterioration in prices, in the hope that slowly improving," pointing out that "Iraq sells oil at less than Brent crude prices to five dollars a barrel on average." .

Saleh pointed out that "Iraq and Iran Mzlouman in oil Hssma scheduled Opec as was planned for Iraq before the eighties war with Iran 3.8 million barrels a day and now we are in the 2016 budget this year was put 3.6 million barrels, less than the 200,000 barrels, and this without our share planned before more than two decades, so Iraq has become a de facto excluded in OPEC's exports. "

The Oil Ministry has welcomed the quadrilateral agreement, which was held on 16 February will be between [Russia - Saudi Arabia - Qatar-Venezuela] judge to freeze oil production for these countries at the level of exports for the month of January last.

Ministry spokesman Assem Jihad said that "the agreement as a step in the right direction and will reflect positively on the global oil market."
It seeks compliant states to freeze to include Iraq and Iran to the agreement.

The Minister of Oil, Adel Abdul Mahdi on Monday during his visit to Japan that Iraq "aspires to produce 7 million barrels per day over the next five years."