Thursday, March 28, 2024

Baghdad

Iraq raises OPEC production to the highest level in three years

 Iraq raises OPEC production to the highest level in three years

Representational file photo.

Representational file photo.
Representational file photo.

(IraqiNews.com) Baghdad – A survey conducted by Reuters news agency revealed that OPEC oil supply increased in June to its highest level in three years thanks to a “near-record” production of Iraq and Saudi Arabia.

Reuters said in a report followed by IraqiNews.com: “the supply of OPEC oil supply in the month of June rose to its highest level in three years thanks to a near-record production from Iraq and Saudi Arabia,” arguing that, ” this will rise OPEC production to a greater degree exceeding its goal of 30 million barrels per day despite the disruptions in Libya and Nigeria. ”

According to the survey, which depends on sources of oil companies and OPEC consulting firms, OPEC oil supply has increased in the month of June to 31.6 million barrels per day.

The Oil Ministry announced in early June for unprecedented quantities of exported crude oil for the month of May to more than 97 million barrels, confirming that the revenue rate amounted more than five billion dollars.

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