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Iraqi Oil Minister unveils proposals to address falling oil prices
Khandan - oil minister in the federal government, Adel Abdul-Mahdi revealed proposals to address falling oil prices.
He wrote Abdul-Mahdi on his page in the 'Facebook' that there are two proposals to address the decline in oil prices, "I leave the price drops to a certain extent with him out of the market every marginal producers who need to price oil high to continue their production, and thus get rid of (OPEC) of surplus without loss of one barrel of market share. "
He said Iraq's oil minister said the second proposal is "that the (OPEC) to reduce the 5 per cent of its production, equivalent to about 1.5 million barrels per day."
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Khandan - oil minister in the federal government, Adel Abdul-Mahdi revealed proposals to address falling oil prices.
He wrote Abdul-Mahdi on his page in the 'Facebook' that there are two proposals to address the decline in oil prices, "I leave the price drops to a certain extent with him out of the market every marginal producers who need to price oil high to continue their production, and thus get rid of (OPEC) of surplus without loss of one barrel of market share. "
He said Iraq's oil minister said the second proposal is "that the (OPEC) to reduce the 5 per cent of its production, equivalent to about 1.5 million barrels per day."
[You must be registered and logged in to see this link.]
