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Oil Minister: optimistic and confident OPEC countries will reach an agreement in Vienna
June 21 2018 01:28 PM
June 21 2018 01:28 PM
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[rtl][rtl]Abdul - Jabbar al - Allaibi - Iraqi Oil Minister[/rtl]
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Iraqi Oil Minister Jabbar al-Luaibi said on Thursday that his country was optimistic and confident that OPEC countries would reach an agreement during the Vienna meeting.
The Iraqi minister stressed that "there are two options," pointing out that one of them is to increase production of oil under the agreement, "OPEC +", which would prefer not to make changes and the maximum production levels of participating countries, noting that Iraq would prefer not to change the agreement " OPEC + "and maximum extraction levels, until the end of the year.
Asked about his country's position while maintaining production, the minister said: "This is our initial position."
OPEC and several other countries agreed in late 2016 in Vienna to reduce their oil production by 1.8 million barrels per day (bpd). Russia has agreed to cut its extraction by 300,000 bpd. This agreement was subsequently extended several times. In November 2017, the agreement was extended to full 2018.
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Baghdad Post
[rtl]Iraqi Oil Minister Jabbar al-Luaibi said on Thursday that his country was optimistic and confident that OPEC countries would reach an agreement during the Vienna meeting.
The Iraqi minister stressed that "there are two options," pointing out that one of them is to increase production of oil under the agreement, "OPEC +", which would prefer not to make changes and the maximum production levels of participating countries, noting that Iraq would prefer not to change the agreement " OPEC + "and maximum extraction levels, until the end of the year.
Asked about his country's position while maintaining production, the minister said: "This is our initial position."
OPEC and several other countries agreed in late 2016 in Vienna to reduce their oil production by 1.8 million barrels per day (bpd). Russia has agreed to cut its extraction by 300,000 bpd. This agreement was subsequently extended several times. In November 2017, the agreement was extended to full 2018.
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