The deal would see oil from the Kurdish region or claimed by its leadership exported via Kurdish pipelines but through the federal oil company.
The deal would see oil from the Kurdish region or claimed by its leadership exported via Kurdish pipelines but through the federal oil company.
Partly because of the shale oil boom in the US, the world is awash in oil but demand from major economies is weak so prices are falling.
The oil prices tumbled 30 per cent since June 2014 to $79 a barrel from $115 a barrel.
Brent crude oil falls $3 to lowest since September 2010 at under $75 a barrel
UAE’s Oct PMI advanced at a brisk pace, touching new highs
Opec’s meeting today will be one of its most crucial in recent years, with oil having tumbled to below $79 per barrel due to the US shale boom and slower economic growth in China and Europe.
No quick rebound seen for crude prices
World’s second-biggest economy will see its weakest growth
Shaikh Tamim also said on Tuesday that the government was focusing on making its spending more efficient, and cracking down on waste and misuse of state funds.
US crude dipped briefly below $80 a barrel before paring losses later in the day as short sellers closed their books for the month and took profits.