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"BP": Iraq will find it difficult to increase its oil production in 2016

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Rocky


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"BP": Iraq will find it difficult to increase its oil production in 2016




November 10, 2015 0


Considered the company "BP" British oil giant, said Tuesday that Iraq will find it difficult to increase its oil production significantly in the next year, likely continuing decline in oil prices.

Quoted "Reuters" for the company's CEO in the Middle East Michael Townsend in a press statement he followed the agency, "our economy" News, "It is difficult to expect a significant increase in production next year due to the nature of the contracts."

Townsend added, "The company expects that low oil prices will continue in the range of $ 60 during the next two to three years."

Oil prices dropped dramatically to less than $ 50 during the current months of this year 201

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