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The seventh conference of producers in OPEC and Iraq confirms the maintenance of the same production

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The seventh conference of producers in OPEC and Iraq confirms the maintenance of the same production

Post by RamblerNash on Wed Jun 20, 2018 9:33 am

The seventh conference of producers in OPEC and Iraq confirms the maintenance of the same production

Wednesday 20 June

Alsumaria News / Baghdad
announced that the Ministry of Oil, Wednesday, the start of the Seventh Conference of the producers in the Organization of Petroleum Exporting Countries , while confirming that Iraq with Alabakaaly current production. "The seventh conference of oil ministers in OPEC and outside OPEC started on the sidelines of the seventh ministerial meeting of producers in OPEC and non-OPEC producers under the slogan of oil - cooperation for a sustainable future,"

said the spokesman of the ministry Asim Jihad , stressing that "Iraq with To maintain the current production of oil without increasing production to maintain prices in the global market. "

Jihad added that "Iraq will provide a working paper to confirm the success of OPEC to maintain oil prices in the global market and the 2016 agreement in OPEC contributed to the return of stability and support oil prices in the global market," noting that "Iraq is working to be supportive of all members "He said.

Jihad said that "Iraqi Oil Minister Jabbar Ali al-Allaibi will hold meetings with the Saudi, Iranian and Algerian oil ministers and the Chairman of the Organization of the OPEC and the other ministers to discuss the issues of production and prices and Iraq is known for his position of consensus in support of all members of the Organization," explaining that " Outside to restore stability to the global oil market after the deterioration of prices. "

The historic agreement in 2016, which includes 24 countries, succeeded in achieving its goals in balancing the oil markets and raising the price of crude after the production was reduced by one million and 800 thousand barrels per day. The largest oil producers want to increase production by one million and 500 thousand barrels per day during their meeting this week Next.

Iraq has rejected the idea of ​​increasing production by Oil Minister Jabbar Ali al-Luaibi last week, saying that we have to exaggerate the need for the oil market to pump more oil at the present time, which could cause great damage to world markets.


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