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Al-Allaibi from Jeddah: Iraq's efforts contributed to rebalancing the oil market
22/4/2018 12:00 am [rtl] Baghdad - Oil Minister Jabbar Ali al-Luaibi said that the commitment of the producers, led by Iraq, to reduce the production of crude oil has contributed to restoring balance and confidence to global markets, adding that Iraq is still a major supporters of this decision. It is hoped that the Ministerial Conference of the Organization of Petroleum Exporting Countries (OPEC) will be held next June, which will result in important decisions in setting a suitable roadmap for the changes of the phase and its developments. "The commitment of the producers to the historic decision to cut crude oil production has contributed," Al-Luaibi said at the eighth meeting of the joint ministerial committee to monitor production in the Saudi city of Jeddah in the presence of OPEC Secretary General Mohamed Barkindo. A major saving of the global oil market from the deterioration of oil prices, as well as achieve tangible results in the rebalancing and confidence of global markets. " "Iraq is keen to support the work of the ministerial committee to monitor production, which stems from the historic agreement between OPEC and a number of producers from outside," he said. "Iraq is one of the main supporters of the decision to reduce oil production until achieving the objectives of the members." "The continuation of meetings, contacts and communication between producers inside and outside the Organization of the Petroleum Exporting Countries is a confirmation of the firmness of the collective position in facing the challenges of the oil market and in addressing the crisis that hit the global market during the past period and work to prevent the recurrence of the future. He added that "the purpose of the meeting of the Committee is to review and follow-up statements of commitment of the signatories to the agreement to reduce production, which confirmed beyond doubt the commitment of all and their concern for the success of the collective agreement to achieve common goals," stressing that "the results of this commitment helps us to come up with recommendations to address the challenges of the stage Coming ". Al-Luaibi said that "this meeting precedes the Ministerial Conference of the Organization of Petroleum Exporting Countries (OPEC), which will be held during June, which will result in important decisions in the development of a roadmap suitable for the changes of the stage and developments."[/rtl] [rtl][You must be registered and logged in to see this link.] [/rtl] |
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