Shafaq News / The Iraqi government welcomed on Thursday the agreement reached by Saudi Arabia and Rorsa to reduce crude oil production, usually a "victory" for OPEC.
The advisor to the Prime Minister, Mazhar Muhammad Salih Shafaq News, said that the oil agreement between Saudi Arabia and Russia, which included reducing production to ten million barrels per day within the APOC organization, is considered a victory for the organization after the recent crisis and the drop in oil prices to the lowest level.
He added that "this agreement will revive the global market, as it is more deliberate on oil," expecting that the price of a barrel of oil within Brent crude will reach 45 - 50 dollars during the coming days.
Saleh added that Iraq supports and supports this agreement and asks OPEC members to maintain the level of production and export of crude oil to avoid any further crisis in the future.
Saudi Arabia and Russia reached an agreement earlier in the day that would lead to a significant reduction in oil production. According to Reuters.
A senior Russian source said that Russia and Saudi Arabia have removed the main obstacles to agreeing new cuts to oil production.
Reuters indicated that Brent oil prices rose by $ 3 a barrel after the start of the OPEC conference and other oil exporters.