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Minister of Oil: The Ministerial Committee in OPEC + decided to keep the production decision unchanged
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Baghdad today - Baghdad
Today, Friday (August 4, 2023), the Minister of Oil, Hayan Abdel-Ghani, announced the support of the Ministerial Committee to Monitor Production in OPEC Plus, to keep the production policy unchanged, with an emphasis on closely evaluating the oil market conditions.
And a statement by the ministry, which was received by "Baghdad Today", quoted Abdul-Ghani as saying during his participation in the forty-ninth meeting of the Joint Ministerial Committee for Production Monitoring, in the (OPEC Plus) group, that: "The meeting included the committee's review via visual communication of crude oil production data for the months of May and June of the year 2023".
He pointed out, "The ministers praised the commitment of OPEC member states and allied producing countries to the declaration of cooperation, and urged all participating countries to continue support and commitment, in order to achieve balance and stability in oil markets."
While the Director General of the Oil Marketing Company (SOMO), Ammar Abd Al, confirmed that: “Maintaining the production policy for OPEC Plus aims to achieve more stability in the oil market.”
As for the spokesman for the Ministry of Oil, Assem Jihad, he confirmed, “The Ministerial Committee for Production Monitoring took this measure after reviewing the data and developments in the oil market during the past months, and that it will not hesitate to take new measures to ensure more stability and balance for the oil market, and that the ministers of the (OPEC Plus) coalition They hold meetings and get-togethers whenever circumstances and necessity require it.
He stressed, "OPEC Plus's procedures and agreements have contributed to achieving more stability and balance in the face of geopolitical, security, health, economic and other challenges."
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