Report

rss

Iraq News

Kurdistan

Economy

World

All News

OPEC+ to increase oil production from May

Category: Economy

Date: 2021-04-01T16:43:00+0000
OPEC+ to increase oil production from May

Shafaq News/ OPEC+ agreed on Thursday to increase oil production gradually over the next three months.

The agreement between the Organization of Petroleum Exporting Countries and its allies to increase production from May to July includes a phasing out of Saudi Arabia’s unilateral 1-million barrel-a-day supply cut, according to delegates.

Two OPEC+ sources said to Reuters the increase would not exceed 0.5 million bpd.

The current plan for the group is to boost output by 350,000 barrels a day in May and again for June, before an increase by 440,000 barrels a day in July.

related

Iraq exports average 2.7m b/d via southern ports, official says

Date: 2021-02-24 09:00:43
Iraq exports average 2.7m b/d via southern ports, official says

OPEC+ agrees to increase output by 400,000 bpd in November

Date: 2021-10-04 16:34:45
OPEC+ agrees to increase output by 400,000 bpd in November

OPEC+ crude oil production climbs in April, Iraq contributes to worsening compliance

Date: 2021-05-11 09:06:43
OPEC+ crude oil production climbs in April, Iraq contributes to worsening compliance

Oil drops as lack of OPEC+ unity hangs over market

Date: 2021-07-05 06:12:46
Oil drops as lack of OPEC+ unity hangs over market

Iraq implements more than 100% of its required cuts of oil

Date: 2020-09-18 07:22:03
Iraq implements more than 100% of its required cuts of oil

Iraq boosts oil production as OPEC+ loosens cuts

Date: 2022-01-12 08:03:51
Iraq boosts oil production as OPEC+ loosens cuts

Oil prices jump after OPEC+ inks supply compromise

Date: 2020-12-04 13:51:46
Oil prices jump after OPEC+ inks supply compromise

Oil futures drops 6% amid OPEC+ deal to bolster supply

Date: 2021-07-19 19:53:23
Oil futures drops 6% amid OPEC+ deal to bolster supply