OPEC agrees to increase Iraq's exports during next July

Baghdad-INA
 
 
Iraq's representative in OPEC, Muhammad Saadoun affirmed on Saturday, that OPEC agreed to increase Iraq's exports to 4.5 million barrels, starting from the months of July, August and September.
 
"Iraq's share during this year increased by 50 thousand barrels per day," noting that "the production ceiling will reach 4.5 million barrels per day in the month of June," said Saadoun in a statement to Al-Iraqiya state channel, followed by the Iraqi News Agency (INA).
 
He also added that "Iraq has the right to increase its production according to the production ceiling, and there will be another increase during the months of July, August and September by 50 thousand barrels for each month, and thus Iraq will reach the normal level of its reference production," noting that "the plans of the Ministry of Oil include a gradual increase and investing the increase granted by OPEC."
 
Saadoun pointed out that "It is estimated that the average oil price will remain above $100 until the third quarter of this year."