Tuesday, 17 March 2020 05:27

OPEC+ seeking for urgent market stabilization

OPEC+ members will continue negotiations, as all parties are convinced of the perniciousness of the current situation and the need to take urgent measures to stabilize the oil market, the official representative of the Iraqi Ministry of Oil Isam Jihad said.

“Iraq gained success after intensive negotiations held by the Deputy Prime Minister, the Iraqi Oil Minister with the participants of the OPEC+ deal, with the head of the organization Mohammed Barkindo, and Mohammed Arkab, the Minister of Energy of Algeria which currently presides in OPEC”, he noted. 

The goal of the talks was to bring together the points of view over the need to convene a monitoring committee at the ministerial level, of which Iraq is a member, as well as a ministerial meeting of OPEC+.

"Iraq has also succeeded in putting an end to the conflict between certain parties. It has met a serious response from certain parties, especially from Russia and other countries”, Jihad stressed.

Travel restrictions imposed by different countries may cause the postponement of the meeting of the OPEC + technical committee. But, according to the Minister, Baghdad was able to succeed in setting a date for the meeting.

 

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