Iraq reduced daily output by nearly 185 thousand barrels


Economy News / Baghdad ...

Oil Minister Jabbar Allaibi, reduced crude oil production by about 185 000 barrels per day.

He said in a press statement on the sidelines of the second meeting of the Joint Ministerial Committee concerned to monitor the implementation of the reduction of oil production reached in Vienna last November and hosted by the State of Kuwait, he said that "the export of Iraqi crude oil corresponds to the terms of cutting production reached by the member states of the Organization of agreement terms oil-exporting countries of OPEC and outside. "

He pointed out that "Iraq's production amounted to about 31.4 million barrels per day during this March," pointing out that "the reduction was from export rather than production, which is still in the rates themselves," pointing out that "surveillance is on export rather than production."

The minister said that "OPEC is considering whether there is a need to extend the agreement between oil producers to cut production," pointing to "the presence of encouraging factors point to an improvement in the oil market."

He stressed that "Iraq will support any measures to help stabilize the market and prices if agreed upon by all members of the organization."

The second meeting of the joint ministerial committee to monitor the oil market was launched in Kuwait on Sunday morning, headed by Minister of Oil and Minister of Electricity and Water of Kuwait Essam Al-Marzouk.

The Committee, chaired by the State of Kuwait in the membership of the three countries within OPEC and includes an addition to Kuwait, Algeria and Venezuela, while Russia and the Sultanate of Oman represents the producing countries from outside the organization.