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Reuters: Iraq is waiting to gauge Iran's lack of oil supply ahead of the OPEC meeting



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6:35 – 11/06/2018

Baghdad – Mawazine News

Iraqi Oil Minister Thamir Ghadhban said on Tuesday that oil shortages caused by new US sanctions against Iran had not been measured before next month's OPEC meeting.
Ghadhban said Iraq wanted to know the "real decline" before Baghdad and other members of the Organization of the Petroleum Exporting Countries decided how to deal with the decline in Iranian shipments.

"I want to wait to see how much Iran's exports have actually dropped, and whether it will be compensated, through OPEC producers and other countries too," the minister told Reuters in his first interview since taking office last month. "He said.
"How is the demand for Iraqi oil increasing on the market today? If there is no request, how can I say we will make up?"
Ghadban did not mention the oil price he expected for 2019 but said prices above $ 70 per barrel would be "fair" and that the higher the price, the better for Iraq.
On Monday, the United States announced new or tougher sanctions against Iran, targeting the oil, bank and transportation sectors.
Sanctions include 50 Iranian banks with branches, more than 200 individuals and a ship in the Iranian shipping sector, as well as Iran Airlines and more than 65 aircraft from its fleet.
The United States also includes the Iranian Atomic Energy Organization in the list of sanctions.

The announcement imposed the latest wave of sanctions in Tehran, as promised by the administration of US President Donald Trump after the United States resigned on May 8, from a joint joint action plan, the agreement ended in 2015, between the international community (represented by countries Six intermediaries , including Russia and the United States) and Iran, aiming to limit Tehran's nuclear program in return for lifting international sanctions and unilateral restrictions on Europe and America on the Islamic Republic.
Trump has promised to restore US sanctions against Iran and even impose new sanctions on them. The US State Department said Washington was trying to get Iranian revenues from oil exports to zero.
The first part of US sanctions on August 7 came into effect in the Iranian automotive industry, trading gold and several other minerals. Finish 29 / d

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You can also read the news at Mawazine News sources

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