Why Iraq Could Make or Break the Next Oil Price Move ...Middle East

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Why Iraq Could Make or Break the Next Oil Price Move
source : OILPRICE ( Middle East ) () 119
Last month, OPEC+ agreed to increase oil output from October by 137,000 barrels per day, a much lower clip compared to the 555,000 bpd increase announced for August and September and 411,000 bpd in June and July. That meant that the group has started unwinding the second tranche of 1.65 million bpd in production cuts more than a year ahead of schedule, having fully unwound the first tranche of 2.5 million bpd since April. The eight members of OPEC+ are set to meet virtually on Sunday, 5th October, to determine the next course of action in unwinding…

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