The declines came after oil prices logged their strongest weekly... Crude-oil futures fell on Monday, snapping a four-session winning streak, after the resolution of output disruptions in Libya brought the recent rally in prices to a halt. U.S. crude futures shed 36 cents, or 0.7%, to $50.24 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, lost 41 cents, or 0.8%, to $53.12 a barrel on ICE Futures Europe.
as informed in This year, it added 10 billion barrels, bringing its total reserves up to 153.1 billion barrels. Iraq's oil minister said on Sunday that his country plans to increase daily crude oil production to 5 million barrels by the end of this year, up from the current rate of about 4.4 million barrels per day, to secure sorely needed cash for its ailing economy. That's based on an estimated oil price of $42 per barrel and daily export capacity of 3.75 million barrels. Iraq's share in the deal is to reduce output by 210,000 barrels a day to 4.351 million barrels. Late last year, Iraq joined a deal by OPEC and non-OPEC members to lower production for six months by 1.8 million barrels a day in order to prop up global oil prices.
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collected by :Jack Luxor
as informed in This year, it added 10 billion barrels, bringing its total reserves up to 153.1 billion barrels. Iraq's oil minister said on Sunday that his country plans to increase daily crude oil production to 5 million barrels by the end of this year, up from the current rate of about 4.4 million barrels per day, to secure sorely needed cash for its ailing economy. That's based on an estimated oil price of $42 per barrel and daily export capacity of 3.75 million barrels. Iraq's share in the deal is to reduce output by 210,000 barrels a day to 4.351 million barrels. Late last year, Iraq joined a deal by OPEC and non-OPEC members to lower production for six months by 1.8 million barrels a day in order to prop up global oil prices.
as informed in
Iraq to Boost Crude Oil Production by Year's End: Minister
This year, it added 10 billion barrels, bringing its total reserves up to 153.1 billion barrels. BAGHDAD (AP) — Iraq's oil minister said on Sunday that his country plans to increase daily crude oil production to 5 million barrels by the end of this year, up from the current rate of about 4.4 million barrels per day, to secure sorely needed cash for its ailing economy. That's based on an estimated oil price of $42 per barrel and daily export capacity of 3.75 million barrels. Iraq's share in the deal is to reduce output by 210,000 barrels a day to 4.351 million barrels. Addressing an energy conference in Baghdad, Oil Minister Jabar Ali Al-Luaibi didn't give details on which of the country's oil fields would supply the increased output.read more visit us oil markets
collected by :Jack Luxor
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