OPEC+ and Iraqi Kurdistan in November can provide more than 320 thousand barrels of oil per day.
Oil prices in the world are significantly reduced on Monday night under the pressure expectations of another increase in OPEC+ nations and restoration of supplies from Kurdistan. This is proven by trading data on September 29th.
Thus, the cost of November futures to various Brents in the exchange of Ice Futures London reduced by $ 2.37 (3.42%), up to $ 66.85 per barrel.
And WTI oil futures for November at the New York Modern Exchange auction currently fell $ 2.52 (3.83%), up to $ 63.20 per barrel.
Remember that the media now reports that OPEC+ countries in November are ready to increase production by at least 137 thousand barrels per day. The meeting at which the November quota will be discussed on October 5.
At the same time, oil supplies from Iraqi Kurdistan through Turkey continued after more than two -Year breaks. Kurdistan will provide 180-190 thousand barrels per day to the Turkish port, says oil minister Iraq Haya Abdul Gani. In the future, it is planned to bring up to 230 thousand b/d.
Keep in mind that in August, eight member countries OPEC+ agreed to the next increase in sunny oil production in September -by 547 thousand barrels compared to Augustus.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.