Wednesday 07-12-2016 | 5:26:53
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The oil minister of the field trip and fuel station in Baghdad - c c / p p
Twilight News Iraqi Oil Minister Jabbar Allaibi / said Wednesday that his country will participate in the making between OPEC countries and producers outside the meeting next week, which seeks to reduce oil production to support prices.
Allaibi said in a statement responded to the Twilight News, said that "all oil-producing countries commitment from within and outside the organization's decision to cut will be an important and influential factor in the stability of the oil market to achieve common goals," and expressed hope that "the oil market stability during the first half of next year."
He added that "Iraq will take part in the organization of meetings with producers from abroad in Vienna next Saturday," stressing that "the OPEC decision to cut oil production in response producing countries outside of OPEC's decision reduction is an important step that will control the glut of oil supply in the global market in the coming period and contribute to the increase in oil prices gradually. "
Allaibi pointed out that "Iraq has been and continues to work on the stability of the oil market and maintain the unity of OPEC," pointing out that "the joint responsibility of producers at the current stage requires the development of effective solutions for the recovery of prices and the stability of the oil market."
OPEC agreed last week to cut production about 1.2 million barrels a day starting from January next in an effort to reduce the glut of global supply and supporting prices.
And Iraq must reduce its production of 200 thousand barrels per day.
It is expected that producers outside OPEC contributes to a common cut production by 600 thousand barrels per day, will be borne by Russia about half that amount, the largest oil producer in the world and the largest producer outside OPEC, at a meeting on Saturday in the Austrian capital Vienna.
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