Iraq said on Friday it would cut its oil production by another 400,000 barrels per day in both August and September to compensate for its overproduction in the past three months.
FILE PHOTO: The logo of the Organization of the Petroleoum Exporting Countries is seen outside of OPEC's headquarters in Vienna, Austria April 9, 2020. REUTERS/Leonhard Foeger/File Photo
The total cut to Iraq’s production in August and September will amount to 1.25 million bpd for each month. The two ministers discussed in a phone call the latest developments in the oil markets, continued recovery in global demand and progress made towards implementing the OPEC+ agreement. OPEC, Russia and other producers agreed to cuts of 9.7 million bpd, or 10% of global output, from May 1. In July, they delivered 5.743 million bpd of the pledged reduction, equal to 94% compliance, a Reuters survey found.The Saudi and Iraqi energy ministers said efforts made by OPEC+ member states would enhance the stability of global oil markets, accelerate its balancing and send positive signals to the markets, the statement said.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
All of the New Beauty Launches to Add to Cart in AugustFrom makeup to skincare and fragrance, these are the new beauty launches coming out in August that should be on your radar.
Weiterlesen »
U.S. and China set to review phase one trade deal in mid-AugustSenior U.S. and Chinese officials will review the implementation of the phase one trade deal and likely air mutual grievances due to growing tensions in an August 15 video conference, sources told Reuters.
Weiterlesen »
August 5 coronavirus newsA 29-year-old Covid-19 survivor discusses his battle after 132 days in the hospital in which he was intubated twice, given a tracheotomy and survived blood clots that resulted in amputation.
Weiterlesen »
What you need to know about coronavirus on Thursday, August 6Here's everything you need to know about the coronavirus pandemic today: 📩 Sign up to get the facts from CNN delivered to your inbox daily:
Weiterlesen »
9 Shows and Movies We're Excited to Stream in August 2020Here's what we're looking forward to seeing on streaming platforms Netflix Canada, Crave and Amazon Prime Video in August 2020.
Weiterlesen »