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Al-Allaibi: Iraq is committed to OPEC decisions to reduce oil production
Oil Minister Jabbar al-Allaibi said on Wednesday that Iraq strongly supports the
decisions of the Organization of the Petroleum Exporting Countries (OPEC), adding that the issue of extension of production cuts is very important during the OPEC ministerial meeting to be held at the headquarters of the Organization on Thursday.
"Iraq as a founding member of OPEC will continue to abide by the decision to reduce oil production," Al-Allaibi said in a press statement. "The reduction period will be subject to discussion by ministers tomorrow to take appropriate action."
"The country is satisfied with the current price levels and is very keen on the stability of the global oil market, pointing out that the market is currently moving towards stability, although not entirely."
"Iraq as a founding member of OPEC will continue to abide by the decision to reduce oil production," Al-Allaibi said in a press statement. "The reduction period will be subject to discussion by ministers tomorrow to take appropriate action."
"The country is satisfied with the current price levels and is very keen on the stability of the global oil market, pointing out that the market is currently moving towards stability, although not entirely."
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