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Algerian oil minister to visit Baghdad today to discuss the extension of the OPEC agreement soon
Release date: 2017/5/10
Algerian Energy Minister Noureddine Bouterfa will visit Baghdad on Wednesday and continue on Thursday, the Energy Ministry said.
The ministry said the visit was "to hold talks with the Iraqi oil minister on issues related to OPEC as oil producers study the extension of a global agreement to cut production."
A source at the Algerian Energy Ministry said his country supports efforts to extend the OPEC-OPEC cutoff for nine months or more to help boost world oil prices.
The Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers agreed last year to cut production by 1.8 million barrels per day for six months from January 1.
Oil Minister Jabbar al-Luaibi said on April 27 that Iraq would abide by what would result in a consensus when OPEC meets in Vienna at the end of May to discuss the extension of the agreement to reduce production.
"On May 25, we will go to OPEC and we will certainly abide by OPEC's final decision and collective decisions," the minister told a conference in Paris.
Iraq, OPEC's second largest producer, is fully committed to the FAO-led supply cut agreement reached last year and has achieved 97 percent of its output reduction target, Allaibi said.
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Release date: 2017/5/10
Algerian Energy Minister Noureddine Bouterfa will visit Baghdad on Wednesday and continue on Thursday, the Energy Ministry said.
The ministry said the visit was "to hold talks with the Iraqi oil minister on issues related to OPEC as oil producers study the extension of a global agreement to cut production."
A source at the Algerian Energy Ministry said his country supports efforts to extend the OPEC-OPEC cutoff for nine months or more to help boost world oil prices.
The Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers agreed last year to cut production by 1.8 million barrels per day for six months from January 1.
Oil Minister Jabbar al-Luaibi said on April 27 that Iraq would abide by what would result in a consensus when OPEC meets in Vienna at the end of May to discuss the extension of the agreement to reduce production.
"On May 25, we will go to OPEC and we will certainly abide by OPEC's final decision and collective decisions," the minister told a conference in Paris.
Iraq, OPEC's second largest producer, is fully committed to the FAO-led supply cut agreement reached last year and has achieved 97 percent of its output reduction target, Allaibi said.
[You must be registered and logged in to see this link.]
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