http://signaloil.wpengine.com/wp-content/uploads/2015/10/Signal-Oil-logo-red-300x32.png 0 0 RSS FEED http://signaloil.wpengine.com/wp-content/uploads/2015/10/Signal-Oil-logo-red-300x32.png RSS FEED2018-08-07 03:32:512018-08-07 03:32:51Iraq Oil Minister Says Oil Prices Approaching Stability
Iraq Oil Minister Says Oil Prices Approaching Stability
Iraqi Oil Minister Jabar al-Luaibi said oil prices are approaching stability, the al-Sabah state newspaper reported Aug. 6.
Iraq plans to raise oil production to more than 7.5 million barrels per day (MMbbl/d) by 2023-2024, including 6 MMbbl/d of oil for exports and 1.5 MMbbl/d for domestic consumption, Luaibi said.
On June 22-23, OPEC, Russia and other producers agreed to raise output from July by returning to 100% compliance with previously agreed output cuts after months of underproduction by OPEC countries including Venezuela.
Luaibi said the country’s refining capacity now stood at around 670,000 bbl/dwith local consumption reaching to