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OPEC+ Talks hit a snag as Iraq goes slow on production cuts [Copy link] 中文

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Post time 2020-6-5 12:17:08 |Display all floors

Talks to extend OPEC+ production cuts hit a snag late Thursday after Iraq said it will only be able to reach its output target at the end of July, defying an ultimatum from Saudi Arabia and Russia to stop cheating on the deal.

While Moscow and Riyadh have already agreed they should continue record supply cuts for an extra month instead of easing them in July as previously planned they will only do so if all other countries implement their pledged cuts in full.

Nigeria, Angola and Kazakhstan have given sufficient assurances that their compliance will improve, but Iraq has not, said people familiar with the matter.

Bloomberg reported that, in a letter to fellow members, the Oil Ministry in Baghdad asked for more time and consideration of issues, such as Kurdish autonomy, that make it difficult to cut, the people said.

(With input from agencies)

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Post time 2020-6-8 15:53:21 |Display all floors
Certainly, it is fair that some of them who are being sanctioned by the USA and its allies, have to continue normal or even expanded productions to make ends meet nationally. Otherwise, they could be starved and wrecked up to the complete satisfactions of those evil and wicked regimes.

Well, the USA and allies have a combined nuke warheads of no less than 7,000 pieces. It is never a fair play in this world and it is for this reason that they are bullying and capable of threatening many nations with embargoes, sanctions and invasive wars .

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Post time 2020-6-9 10:21:51 |Display all floors

OPEC was formed to ensure Saudi Arabia has a say. Its then Oil Minister Yamani was ousted because he was roaming about in the imperial courts like his home.

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