sources in the oil sector , she told Reuters that Iraq 's five million extra barrels of crude oil to its customers will be issued in June to join it to other producers in the Middle East to strengthen its market share in the days of this week 's OPEC meeting before.
Iraq and target 's second - largest producer in the Oopk- already record export volumes of crude from the southern ports next month of up to 3.47 million barrels a day.
Plans to Saudi Arabia, Kuwait, Iran and the UAE to increase supplies in the third quarter.
Receded expectations take OPEC 's decision to curb supplies in the meeting scheduled on Thursday because of the recovery of world oil prices from the lowest level in 12 years to more than $ 50 a barrel and in the light of competition between Saudi Arabia and Iran.
the additional exports offset production contraction and supply disruptions in other places but new supplies may also retard rebalance the global market is still oil - saturated.
said Victor Shum , energy consulting firm official downstream in [IHS] "OPEC certainly increase supplies and practiced strategy puts its market share in the first place , " referring to an effort led by Saudi Arabia to strengthen OPEC production in order to regain market share.
he added that the additional oil from Saudi Arabia and Iraq could lead to a slowdown in rebalancing the global market but may offset supplies from elsewhere crashes and demand strong seasonal.
, according to three sources familiar with the matter is that the Iraqi oil marketing company SOMO] has allocated five million additional barrels of Basra light crude download June partners in the upstream activities, including PetroChina and Eni and Lukoil.
the foreign companies get oil dues under a technical service with Sumo decades , but payments were delayed after that caused the decline in oil price to put pressure on Iraq 's budget.
he said the source of the oil sector in the Gulf , said the extra oil was decided "because of contractors technical service pressure. "
He added that Iraq also committed to pay the dues of contractors under the terms of a loan from the international Monetary Fund.
the additional supplies come as a result of the expansion and Alortaua Allhis fields in southern Iraq. Iraq wants to increase its oil production by up to one - third by 2020.
A source in one of the three companies that got the oil that a million barrels of additional Basra Light crude sold after two hours of notification of sumo , which refers to the strength of demand for Iraqi crude amid expectations of higher rates official sales in July.
traders said the premium price for the immediate supply of June dropped to between 40 and 80 cents a barrel , after over $ in May due to increased export volume and high official selling prices in June.
http://www.alliraqnews.com/modules/news/article.php?storyid=39292
Plans to Saudi Arabia, Kuwait, Iran and the UAE to increase supplies in the third quarter.
Receded expectations take OPEC 's decision to curb supplies in the meeting scheduled on Thursday because of the recovery of world oil prices from the lowest level in 12 years to more than $ 50 a barrel and in the light of competition between Saudi Arabia and Iran.
the additional exports offset production contraction and supply disruptions in other places but new supplies may also retard rebalance the global market is still oil - saturated.
said Victor Shum , energy consulting firm official downstream in [IHS] "OPEC certainly increase supplies and practiced strategy puts its market share in the first place , " referring to an effort led by Saudi Arabia to strengthen OPEC production in order to regain market share.
he added that the additional oil from Saudi Arabia and Iraq could lead to a slowdown in rebalancing the global market but may offset supplies from elsewhere crashes and demand strong seasonal.
, according to three sources familiar with the matter is that the Iraqi oil marketing company SOMO] has allocated five million additional barrels of Basra light crude download June partners in the upstream activities, including PetroChina and Eni and Lukoil.
the foreign companies get oil dues under a technical service with Sumo decades , but payments were delayed after that caused the decline in oil price to put pressure on Iraq 's budget.
he said the source of the oil sector in the Gulf , said the extra oil was decided "because of contractors technical service pressure. "
He added that Iraq also committed to pay the dues of contractors under the terms of a loan from the international Monetary Fund.
the additional supplies come as a result of the expansion and Alortaua Allhis fields in southern Iraq. Iraq wants to increase its oil production by up to one - third by 2020.
A source in one of the three companies that got the oil that a million barrels of additional Basra Light crude sold after two hours of notification of sumo , which refers to the strength of demand for Iraqi crude amid expectations of higher rates official sales in July.
traders said the premium price for the immediate supply of June dropped to between 40 and 80 cents a barrel , after over $ in May due to increased export volume and high official selling prices in June.
http://www.alliraqnews.com/modules/news/article.php?storyid=39292