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We are trying to control the oil surplus
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The Deputy Prime Minister for Energy and Oil Minister Thamer Ghadhban reiterated the efforts of Iraq and members of the Organization of Petroleum Exporting Countries to control the oil surplus and restore balance through the 15th meeting of the OPEC producers and their Russian-led allies.
"The objectives of the producers have not yet been realized due to the size of the major challenges facing the global oil market. We are seeking with the rest of the members to control the oil surplus in the global market and rebalance in order to support prices," Ghadban said in a statement to the ministry. Oil and that decisions must be approved by all member states. "
For his part, the spokesman of the ministry Asim Jihad said that "the ministerial meeting opened on Monday with a speech by the Secretary-General of the Organization of Petroleum Exporting Countries Mohammad Barkindo, and then the words of the Saudi Oil Ministers Khalid Al-Faleh and Russian Novak, who stressed the need to extend the agreement in order to achieve greater stability of the oil market "He said.
Jihad said that "yesterday's meetings brought together producers from within (OPEC) and from outside, while meetings today will be shortened to the producers of the members of the (OPEC)."
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