Iraq Says Burden of Possible 400,000 Barrels Cut Would Be Shared by OPEC Members

The video discusses the importance of consensus in production cuts, emphasizing that all member countries should share the burden equally. It highlights the agreement with the Kurds, which will officially integrate their production into the federal government's total output. This agreement involves the Kurdistan region handing over a portion of its production to the federal government, with the rest covering production costs and company remuneration.

What is the main focus of the discussed scenario?

• Eliminating production entirely

• Maintaining current production levels

• Cutting production by 400,000 barrels per day

• Increasing production by 400,000 barrels per day

Why is consensus important in the context of the discussed scenario?

• It allows for a variety of opinions to be ignored

• It ensures that only one country bears the burden

• It prevents any changes in production levels

• It helps in making collective decisions

Who is expected to share the burden of production cuts?

• Only Iraq

• Only the largest producers

• All member countries

• Only non-member countries

What change is expected from the agreement with the Kurdistan region?

• Kurdistan will stop production entirely

• Kurdistan will increase its production by 500,000 barrels per day

• Kurdistan will hand over 250,000 barrels per day to the federal government

• Kurdistan will produce 300,000 barrels per day for its own use

How will the agreement with Kurdistan affect the federal government's production?

• It will officially include Kurdistan's production in the total

• It will not affect the total production

• It will decrease the total production

• It will exclude Kurdistan's production from the total