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Abdul-Mahdi submit proposals to address the decline in world oil prices
19-01-2015 07:19 PM
The Minister of Oil, Adel Abdul-Mahdi, two proposals to address the decline in oil prices in global markets, one left until prices fall out of the market every marginal producers, while the second Reducing OPEC production by 5% of its production.
He wrote Abdul-Mahdi in his page on the social networking Al'faspock site ', that there are two proposals' to deal with falling oil prices, first: let prices fall to an end with him out of the market every marginal producers who need high oil prices to continue their production, and thus get rid of (OPEC ) of surplus without loss of one barrel of market share.
The second is that the (OPEC) to reduce the 5 per cent of its production, equivalent to about 1.5 million barrels a day. '
The Mahdi had announced at a joint news conference with Turkish Energy Minister Taner Yildiz in Baghdad, yesterday, said that 'Iraq's oil exports last month came close to three million barrels per day, including the source through Sumo from the port of Ceyhan,' he said, adding that 'production will reach to four million barrels per day this year after the recent agreement with the Kurdistan '.
He added that 'this figure historic happens the first time', adding that 'Iraq has made great efforts and invested large sums of money to get to this number.'
It is said that global oil prices have seen a significant decrease is the first of its kind in five years, which led to many of the affected countries, including Iraq.
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19-01-2015 07:19 PM
The Minister of Oil, Adel Abdul-Mahdi, two proposals to address the decline in oil prices in global markets, one left until prices fall out of the market every marginal producers, while the second Reducing OPEC production by 5% of its production.
He wrote Abdul-Mahdi in his page on the social networking Al'faspock site ', that there are two proposals' to deal with falling oil prices, first: let prices fall to an end with him out of the market every marginal producers who need high oil prices to continue their production, and thus get rid of (OPEC ) of surplus without loss of one barrel of market share.
The second is that the (OPEC) to reduce the 5 per cent of its production, equivalent to about 1.5 million barrels a day. '
The Mahdi had announced at a joint news conference with Turkish Energy Minister Taner Yildiz in Baghdad, yesterday, said that 'Iraq's oil exports last month came close to three million barrels per day, including the source through Sumo from the port of Ceyhan,' he said, adding that 'production will reach to four million barrels per day this year after the recent agreement with the Kurdistan '.
He added that 'this figure historic happens the first time', adding that 'Iraq has made great efforts and invested large sums of money to get to this number.'
It is said that global oil prices have seen a significant decrease is the first of its kind in five years, which led to many of the affected countries, including Iraq.
[You must be registered and logged in to see this link.]
