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Iraq plans to increase its oil production in 2016
10/15/15
BAGHDAD / Sky Press: major oil source said, Iraq's second-largest oil producer, OPEC hopes to increase crude production further in the next year also is looking to sell record amounts of oil to buyers from the southern port of export.
Iraq has seen growth exceeded expectations in production over the past year, which contributed to a global supply glut which worsened after Saudi Arabia's decision largest member of the OPEC not to cut production in order to defend market share in the face of Mrtfie cost producers are not members of the organization.
The source, who asked not to be named, told Reuters I followed "Sky Press," that "production will increase in the next year. Not this year, but will increase strongly. There will not be cut."
The new Iraq plan indication that senior Organization of Petroleum Exporting Countries members (OPEC) will not budge from their efforts to protect market share rather than curb supplies to support prices.
The source said that planned to reach 2016 exports from southern Iraq between three million and 3.2 million barrels per day, of which between 2.2 and 2.4 million bpd of Basrah Light and 850 thousand barrels per day of heavy crude from Basra.
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10/15/15
BAGHDAD / Sky Press: major oil source said, Iraq's second-largest oil producer, OPEC hopes to increase crude production further in the next year also is looking to sell record amounts of oil to buyers from the southern port of export.
Iraq has seen growth exceeded expectations in production over the past year, which contributed to a global supply glut which worsened after Saudi Arabia's decision largest member of the OPEC not to cut production in order to defend market share in the face of Mrtfie cost producers are not members of the organization.
The source, who asked not to be named, told Reuters I followed "Sky Press," that "production will increase in the next year. Not this year, but will increase strongly. There will not be cut."
The new Iraq plan indication that senior Organization of Petroleum Exporting Countries members (OPEC) will not budge from their efforts to protect market share rather than curb supplies to support prices.
The source said that planned to reach 2016 exports from southern Iraq between three million and 3.2 million barrels per day, of which between 2.2 and 2.4 million bpd of Basrah Light and 850 thousand barrels per day of heavy crude from Basra.
[You must be registered and logged in to see this link.]
