Iraq expects improvement and stability in the global oil market

by **claud39** Tue Dec 03, 2019 6:31 am

Iraq expects improvement and stability in the global oil market

03/12/2019

Economy News _ Baghdad

The Ministry of Oil expected on Tuesday to see improvement and stability in the world oil market next year, and that the interest of producing countries is to stabilize the market and stay away from fluctuations in prices, while stressing the continuation of all companies operating within the licensing rounds of work, announced that it has appointed more than 8,000 Within its staff.

Deputy Prime Minister and Minister of Oil Thamer Ghadhban said in a statement reported by the newspaper "morning" and seen by the "economic news", before leaving Iraq to participate in meetings of the Organization of Petroleum Exporting Countries: "The visit will include the regular ministerial meeting of the Organization of Petroleum Exporting Countries and participation in the meeting (OPEC) and producing countries OPEC, in addition to participating in the meeting of the ministerial committee to monitor the assessment of the commitment of the producing countries that are members of the Organization and outside the 24 production reduction rates.

Ghadhban added, “The role of Iraq in these meetings will be positive and constructive because it is the founder of (OPEC) and because the interest of all countries within it, that there is stability in the market and stay away from fluctuations, as the participants have a responsibility towards their people to secure stable resources, and be a fair return to the state Produced with overstatement and weight on the consuming countries. "

Ghadhban predicted that "the year 2020 will see an improvement in the stability of prices, especially that there is a review of growth and global demand for crude oil, and that Iraq is most in need of this stability because of its large budget commitments and large numbers who have been appointed and thus increase their salaries, which will contribute to the presence A big deficit, so Iraq is interested in getting a fair price to sell its oil, and therefore has only cooperation with OPEC members and outside to ensure the stability of the market.

Regarding the demonstrations witnessed in the country and its impact on the oil installations, he said that "the right to demonstrate is guaranteed in accordance with the Constitution, laws and government, noting that whenever the demands are legitimate and aimed at reforming the system of government, it will be solidarity and response to them," noting that "part of the demands is political and the other community As for the political section such as the electoral law and the High Electoral Commission.

The Minister of Oil: "As for the reform package, there are two packages, one taken from the demands of the demonstrators, and the second by the conservatives and the Cabinet approved both packages and began to implement by the government," declaring his rejection of "some use of violence against the security services and citizens and the closure of schools And institutions. ”

http://economy-news.net/content.php?id=18395