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Al-Allaibi: Iraq is a major supporter of the agreement to reduce the production of «OPEC»
21/4/2018 12:00 am [rtl]JEDDAH / Reuters Oil Minister Jabbar al-Allaibi said on Friday that Iraq is a main supporter of a reduction of production between the Organization of Petroleum Exporting Countries (OPEC) and producers from outside the organization "until the achievement of the goals." "The Jeddah meeting aims to review the commitments of the participating countries in the production cut-off agreement," Al-Allaibi said in a statement issued during a meeting of OPEC's ministerial oversight committee and independent producers. "All members are committed to the supply reduction agreement." For his part, said Saudi Energy Minister Khalid Al-Falih, "Oil stocks have declined steadily over the past 15 months," noting that "compliance with the World Oil Agreement reached 145 percent last March." Al-Falih stressed the need to "strengthen cooperation between OPEC and independents after the current agreement, which is important to restore market confidence," adding that "the market should continue to be monitored while meeting production targets." Russian Energy Minister Alexander Novak said on Friday that Moscow's compliance with an agreement between OPEC and a number of non-OPEC oil producers on production cuts was 99 percent and would reach 100 percent this month.[/rtl] [rtl][You must be registered and logged in to see this link.][/rtl] |
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