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Tag: oil production

OPEC Alliance considering Stronger Cuts in Oil Production

OPEC Alliance considering Stronger Cuts in Oil Production

As the global economy shakes, the OPEC oil alliance is considering stronger cuts to production next year to prevent an expected price slump in the market. Some reports have indicated that authorities from some of the biggest Petro-nations in the world are seeking to cut an extra 400,000 barrels of oil per day from the global market. They are also considering stronger cuts of up to 800,000 barrels. It is noteworthy that the tighter oil production policy already has the…

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Iraq will Cut its Oil Production according to OPEC Agreement: Oil Minister

Iraq will Cut its Oil Production according to OPEC Agreement: Oil Minister

The Iraqi Oil Minister Jabbar Allaibi said in a statement that Iraq is dedicated to decrease its oil production according to the global agreement to provide support in stabilizing the oil prices. He further added that he is still hopeful that Iraq has been considered the second largest oil producing country in the Gulf region and one of the largest oil exporters in OPEC. He said that Iraq has the ability to increase its production in the coming years. Allaibi…

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Iraq Reaches its Highest Point of Oil Production

Iraq Reaches its Highest Point of Oil Production

The Iraqi Prime Minister Haider Al Abadi said that Iraq is working very hard in its oil sector and we have achieved the maximum level of oil production in the history from Iraqi oil sector. Haider Al Abadi said these words in a meeting with a number of Russian public companies representatives in the Russian capital Moscow. Abadi welcomed Russian companies who need to work in Iraq. He also said that we have a number of opportunities for Russian companies…

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Oil Prices High Again After Dip

Oil Prices High Again After Dip

Iraqi Dinar 123 News :- The price of oil keeps fluctuating. The fluctuation in the price of oil affects globally. The price of Brent crude oil went up by two dollars a barrel. This was a hike in the price after a three week dip. It has been facing the different issues of fluctuation in the price but now it has reached $ 80 per barrel. Crude oil has reached the 80 dollar mark but the price of Brent oil…

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Oil Production Goes Above 3 Million Barrels A Day

Oil Production Goes Above 3 Million Barrels A Day

Iraqi Dinar 123 News :- It was good news for Iraq that the oil production went above 3 million barrels a day while the demand for export is at 2.5 million barrels. It is a good idea to handle things out in such a way that the production of oil is more than the export demand. This would help in the management of the betterment of the economic sector. The production of oil is very important and Iraq’s economy is…

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High Oil Production in The South Iraq

High Oil Production in The South Iraq

Iraqi Dinar 123 News:– It was good news on Wednesday that 77 million barrels of crud oil has been produced in the southern part of Iraq. The company responsible for the southern part of Iraq is exceptional. They announced the total production of the oil fields of material crude oil for the month of June exceeded by 77 million barrels. According to the South Oil Company the total recipient of oil from the fields of Missan and humpback was nine…

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OPEC And Oil Production in Iraq

OPEC And Oil Production in Iraq

Iraqi Dinar 123 News:– The Secretary General of OPEC said that the production of oil said in a meeting of the organization that Iraq would soon produce oil from the South of it. There is no need to get tense over the fact that the production of oil from Libya is there no more. He speculated that very soon Libya would be back in oil production. He said that there is high chance that the people of Ukraine and Iraq…

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Iraq to Remain The Second Largest Oil Producer

Iraq to Remain The Second Largest Oil Producer

Iraqi Dinar 123 News:– Iraq is the second largest oil producer of the world with the 3.25 million barrels per day. Saudi Arabia with the 6.6 million barrel oil is at the top of the list. For the numbers of years Iran is in the quest of the position of Iraq in the international market. As far as my opinion is concern, the Iran is little late now. The sanctions of UNO have been lifted from Iraq and now it…

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