The oil Minister, Jabbar allaibi, that Iraq is committed to respect the reduced share of oil production, as agreed with the Organization of petroleum exporting countries (OPEC) and other exporters.
When asked if Iraq will extend the production cuts, allaibi said at a press conference in Baghdad on Sunday, "we're with OPEC and its unanimity."
OPEC ministers meeting in Vienna on Friday said they would wait until March before deciding whether to extend the January output restrictions aimed at supporting prices after the first quarter of 2018.
And cut OPEC members and other producers including Russia production around 1.8 million barrels a day since the beginning of 2017 which helped raise oil prices of 15% in the last three months.
OPEC is studying its allies to extend the agreement beyond the current amendments at the end of March 2018.
Iraq continuously talks with Shell Oil crazy field
Meanwhile, allaibi said that the ongoing talks with Royal Dutch Shell regarding oil, which crazy field crackled that the company wishes to withdraw.
And the letter was signed by allaibi on 23 August seen by Reuters had given consent to the withdrawal of shell from crazy, is a major oil field near Basra began production in 2014.
Private sector sources Reuters reported last year that Shell considering selling their shares in Iraqi oil fields, in the framework of a global programme of divestment of assets worth $30 billion.
SOURCE
When asked if Iraq will extend the production cuts, allaibi said at a press conference in Baghdad on Sunday, "we're with OPEC and its unanimity."
OPEC ministers meeting in Vienna on Friday said they would wait until March before deciding whether to extend the January output restrictions aimed at supporting prices after the first quarter of 2018.
And cut OPEC members and other producers including Russia production around 1.8 million barrels a day since the beginning of 2017 which helped raise oil prices of 15% in the last three months.
OPEC is studying its allies to extend the agreement beyond the current amendments at the end of March 2018.
Iraq continuously talks with Shell Oil crazy field
Meanwhile, allaibi said that the ongoing talks with Royal Dutch Shell regarding oil, which crazy field crackled that the company wishes to withdraw.
And the letter was signed by allaibi on 23 August seen by Reuters had given consent to the withdrawal of shell from crazy, is a major oil field near Basra began production in 2014.
Private sector sources Reuters reported last year that Shell considering selling their shares in Iraqi oil fields, in the framework of a global programme of divestment of assets worth $30 billion.
SOURCE