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Iraqi Oil Minister: Iraq supports the extension of OPEC's production cut agreement until December 2022

 Last Update: 2021-07-20
 Source: Internet
 Author: User

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According to foreign news on July 4, the Iraqi Oil Minister said on Sunday that Iraq supports the extension of the OPEC production reduction agreement to December 2022, and it is expected that the oil price will not be lower than US$70/barrel before the end of 2022
.

The Iraqi Oil Minister said that it is expected that OPEC's agreement on Monday will help support the stability of the oil market and provide services to oil-producing and consumer countries; Iraq agreed to increase OPEC’s output by 400,000 barrels per day from August
.

He said that BP hopes to continue to operate in Iraq and plans to implement key energy projects in the future, and hopes to cooperate with Lukoil to improve the company's situation
.

The Iraqi Oil Minister stated that oil exports in July will reach 2.
9 million barrels per day, and Iraq’s implementation rate of OPEC’s oil production reduction agreement will reach 100%
.

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