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Oil Minister: Iraq's position has been and continues to be positive and pivotal in the global market DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

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Oil Minister: Iraq's position has been and continues to be positive and pivotal in the global market

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Oil Minister: Iraq's position has been and continues to be positive and pivotal in the global market Empty Oil Minister: Iraq's position has been and continues to be positive and pivotal in the global market

Post by RamblerNash on Sat Jun 08, 2019 12:08 am

Oil Minister: Iraq's position has been and continues to be positive and pivotal in the global market

Oil Minister: Iraq's position has been and continues to be positive and pivotal in the global market Doc-P-306902-636955099572771521

2019-06-07 09:10

The Deputy Prime Minister for Energy Affairs and Oil Minister Thamer Al-Ghadhban said that Iraq's stance in the international oil market has been positive and pivotal in the global market, pointing out that the rise and fall of oil prices in close periods reflected negatively on the economies of both producing and consuming countries.

" The global market is still unstable because of the challenges it faces, including the excess oil supply from multiple sources, as well as the geopolitical conditions, " Ghadhban said during his participation in the St. Petersburg Forum, which opened in Russia on Thursday. Which suffer from some areas of oil production, which negatively affects the stability of prices and market turmoil. "

He explained that "the challenges are still present and strongly, and this is why we look for solutions and agreements that enhance the position of the producers within the Organization of Petroleum Exporting Countries" OPEC "and its allies from outside, led by Russia ," noting that "the rise and fall in oil prices in frequent periods reflected negatively on Economies of both producing and consuming countries and impeding the economic growth of many countries. "

"The position of Iraq has been and continues to be a positive and pivotal role, and that with all the appropriate options that support oil prices and stability of the global market, and that the ministerial meeting in Vienna "The desire of many member countries to continue the decision to reduce oil production until the end of this year, until control of supply in the oil market, and balance between supply and demand "He said.

For his part, spokesman for the Ministry of Oil Assem Jihad that "the objective of Iraq's participation in this forum is a suitable opportunity to see the latest developments and challenges facing the world economy, including the oil sector, as well as the Minister of Oil meetings with a number of ministers of oil and energy and decision makers and heads of companies To enhance cooperation with them and contribute to enhancing Iraq's role in the international arena. "

Jihad added that "Ghadhban had participated with Russian Energy Minister Novak and a number of ministers, experts and stakeholders in a symposium to discuss the issue of" demand for oil after 10 years. "The attendees stressed the importance of oil in the global consumption of energy for decades.

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