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Oil Minister reveals solutions to address the decline in global oil prices
BAGHDAD / newspaper uprightness
Oil Minister Adel Abdul-Mahdi suggested solutions contribute to address falling oil prices.
Where Abdul-Mahdi, wrote on his page in the (Facebook) that there are two proposals to address the decline in oil prices, "I leave the prices fall to an end with him out of the market every marginal producers who need to prices of oil high to continue their production, and thus get rid of (OPEC) of surplus without loss of one barrel of market share. "
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."
With newspaper «The Washington Times» The increase in US oil production in Iraq may determine the future of global oil prices in the coming years, especially after the lifting of Iraq volume of production last year to arrive in December to 3.4 million barrels per day.
US paper said that Iraq may be the only one in the world which still contains large amounts of crude oil, which does not require expensive equipment for the extraction of the country as it is close to the number one position as the largest oil exporter in the world.
Perhaps one of the most important reasons for the existence of this type of oil in Iraq, is a long war and economic sanctions on the country, which has maintained a presence of oil without being touched by one.
The Iraq exports crude oil from the ports of Basra and Khor al-Amaya on the Arabian Gulf, as well as the Turkish port of Ceyhan on the Mediterranean Sea, and through the pelvic trucks to Jordan,
The Iraqi exports from the Basra oil ratio of about 90 percent, while the remainder of the Kirkuk oil fields in the north of the country exported through the port of Ceyhan Turka.anthy 9
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