Iraq Backs up OPEC Oil Deal to Boost Prices
10 de enero de 2017, 17:51Baghdad, Jan 10 (Prensa Latina) Iraq cut its crude oil production by 160,000 barrels a day since early January by the Organization of the Petroleum Exporting Countries (OPEC) pact to boost fuel prices, it said today.
According to Iraqi minister Jabar Ali al-Luaibi, by the end of this month they expect to reduce pumping up to 210,000 barrels a day, in order to comply with the limit agreed by OPEC for the country .
On Monday, the Petroleum Ministry reported that exports from the southern ports amounted to 3.51 million barrels a day, but confirmed that the extraction fell nationwide and will continue this trend in line with the agreement reached by OPEC and other large potential Sector outside the cartel.
At the end of November 2016, the group decided to reduce its joint delivery by 1.2 million barrels. The initiative was seconded shortly afterwards by other states and supposes a total decrease of 1.8 million barrels per day.
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