Iraqi Oil Minister Ihsan Abdul-Jabbar says that the decision to increase production by the OPEC Plus group came in order to compensate for an expected increase in global demand.
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Iraqi Oil Minister Ihsan Abdul-Jabbar (archive)
Today, Wednesday, Iraqi Oil Minister Ihsan Abdul-Jabbar commented on the decision of the “OPEC +” group to increase production in September to 100,000 barrels per day.
Abdul-Jabbar said that “increasing production to 100,000 barrels per day seeks to achieve a balance between supply and demand in global oil markets.”
He added, “The decision to increase came in order to compensate for an expected increase in global demand.”
Today, the countries of the “OPEC +” alliance adopted, following its session, an increase in oil production By 100,000 barrels per daynext September, according to Sputnik.
Today, the Russian Deputy Prime Minister, Alexander Novak, said that the decision of the “OPEC +” group It will allow to provide a growing demand for oil in the global market.
And on Tuesday, “OPEC +” expected that Oil market supplies are slightly reduced This year, more than what was previously expected, before today’s meeting, in which the oil-producing group will take decisions on its production policy for the next month.