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[size=30]An Arab-Iraqi agreement within OPEC +: No additional increase in oil production
2022-02-21
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Yes Iraq: Baghdad
On Sunday, Iraqi Oil Minister Ihsan Abdul-Jabbar urged "OPEC +" to adhere to its current agreement, which adds 400,000 barrels per day to production per month.
“In the interest of the entire energy markets, OPEC + must remain committed to the current ongoing and sustainable agreement,” Abdul-Jabbar said, during a dialogue session with his Arab counterparts.
The Arab oil and energy ministers agreed with what the Iraqi Oil Minister had proposed, as Saudi Minister Abdulaziz bin Salman stated that “focusing only on renewable energy sources is a mistake, and that the world may not be able to produce all the energy needed for economic recovery from the Corona virus pandemic.”
Bin Salman added, during an energy conference held in the Saudi capital, Riyadh, that “the epidemic crisis and the ongoing recovery have taught oil producers the value of being cautious.”
For his part, the Kuwaiti Oil Minister stressed the importance of “all producers’ commitment to the OPEC + agreement,” noting that “the stability and balance of the market is one of the pillars of the energy strategy, and that efforts to maintain additional production capacity have proven important to maintain the security of energy supplies.”
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