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The Iraqi negotiating team for "OPEC" accused of working with foreign parties

Category: Economy

Date: 2020-05-02T13:28:19+0000
The Iraqi negotiating team for "OPEC" accused of working with foreign parties

Shafaq News / The member of the Parliamentary Oil and Energy Committee, Uday Awad accused on Saturday the Iraqi government negotiating team for "OPEC" organization of working for foreign parties.

"Iraq’s oil policy was a floundering political policy and had a negative and significant impact on Iraq since the government of Adel Abdul Mahdi, with the presence of the Minister of Oil Thamer Al-Ghadban and the presence of young people who have no experience in SOMO,,” Awad told Shafaq News.

"That is why we find the many, large and dangerous failures in this file. as Iraqi negotiating team, which includes the Minister of Oil and SOMO, was working for foreign parties, so certainly any decision taken by it is not in the interest of Iraq," stressing that "Iraq reducing its production by 23%, is not a solution , this It will deepen the economic crisis in the country. "

Reuters, citing sources, said that the oil sector in Iraq will face difficulties to reduce production at a record rate of one million barrels per day (bpd), or 23%, as of May current year, within the framework of OPEC agreement with Russia and other producers, and that Baghdad has not yet reached an agreement with international oil companies on the places of cuts .

The Iraqi Oil Ministry announced on Friday the export of 3.438 million barrels per day last April, with financial revenues of 1.423 billion dollars.

Thus, exports recorded an increase from 3.390 million bpd in March, but revenues recorded a sharp decline from about $ 3 billion in March and about 5 billion in February.

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