Iraq doesn’t expect to adjust OPEC production levels

Economy

2013-11-10T13:04:24+00:00

to decide on the issue of amending the targeted production levels .

Iraq is considered the second- largest exporter in (OPEC), which pumps more than a third of global production.

Laeebe said in a brief statement to Reuters briefed by "Shafaq News" that " the market is stable and prices as well."

Asked whether OPEC needed to adjust its oil policy at its meeting in the 4th of December in Vienna , Angolan Oil Minister , Jose Botelho de Vasconcelos in Abu Dhabi said, " I do not think so , especially since the market is stable now."

OPEC expects a decline in global demand for crude oil production in the next five years , with increased supplies from outside the group, which includes 12 members because of shale oil boom and other sources.

Iraq's oil exports have restored in October to record 2.253 million barrels per day.

The exports have decreased in September to 2.07 million barrels per day , registering the lowest level this year due to maintenance and expansion in oil export terminals in southern Iraq.