+44(0) 800 772 3004
marketing@ziyen.com

Iraq Minister of Oil plans no freeze on production for 2016

Saudi Arabia are considering proposing a cut in production for OPEC members by 1 million barrels per day

Iraq's Minister of Oil, Mr Adel Abdel Mahdi, said Iraq are planning to keep pushing forward with their production plans in 2016.

Even with the lower oil price Mr Adel Abdel Mahdi doesn't see any need to freeze it's output even though the oil price is low.

Saudi Arabia are considering proposing a cut in production for OPEC members by 1 million barrels per day, on the condition that non-OPEC oil producing countries also join in.  

This would mean that both Iraq and Iran would have to contribute to the cuts, which is something they are not planning in 2016.

Ministers from the group are holding an informal meeting on Thursday ahead of their formal discussions on Friday.

Categories

Read more news like this