• Sign up for the Daily Digest E-mail
  • Facebook
  • Twitter
  • LinkedIn

BOE Report

Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Columns
    • Discussions
  • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAODC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Well Licences
    • USA Market Data
    • Data Subscription
  • Jobs

Iraq says OPEC+ cuts unchanged in March, but easing after

February 10, 20216:22 AM Reuters0 Comments

Iraq said on Wednesday OPEC+ would keep its output cuts policy unchanged at a March meeting, but that Saudi Arabia would likely abandon voluntary production cuts of 1 million barrels per day (bpd) after that as oil prices rally.

Iraqi Oil Minister Ihsan Abdul Jabbar said he anticipated an oil price of $58 to $63 in 2021. The minister spoke at a news briefing in Baghdad.

Abdul Jabbar said he hoped Saudi Aramco might get a share in a deal to develop Iraq’s Akkas gas field.

He said a consortium led by oilfield services provider Schlumberger was now the front-runner to win that project and that Iraq intended to cancel an agreement over Akkas with South Korea’s KOGAS in the coming months.

Iraq, OPEC’s second-largest producer, relies on oil exports for nearly all its state revenue. It was hit hard by low oil prices last year and struggled to pay public sector workers.

Oil exports and prices have begun to creep up and Abdul Jabbar said he expects Iraqi exports to average 2.9 million barrels per day (bpd). He said Iraqi production would average 3.6 million bpd in February if the autonomous Kurdistan region abides by OPEC+ output cuts.

He added that Iran might return to the oil market if everything remained “normal”, without elaborating. 29dk2902l

Saudi Aramco

Follow the BOE Report
  • Facebook
  • Twitter
  • LinkedIn
Sign up for the BOE Report Daily Digest E-mail
Latest Headlines
  • Bird River Resources closes $700,000 private placement
  • Canada’s weekly rig count drops 8 to 177
  • PSAC statement on Alberta Budget 2021
  • U.S. drillers add rigs for 7th month in a row, pace slows
  • Crude-by-rail exports are rebounding after a drastic drop in 2020 due to COVID and other factors

Return to Home
Alberta Gas
CAD/GJ
Market Data by TradingView





    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    Resources
    • App
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contribute
    • Contact
    • Report Error
    Featured In
    • CamTrader
    • Rigger Talk
    Data Partner
    • Foxterra
    BOE Network
    © 2021 Grobes Media Inc.