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  • 10-06-20

    Iraq confirms full pact with new OPEC oil deal

    (MENAFN)

    Iraq has pledged its full commitment to the new agreement between OPEC and non-OPEC nations who will continue controlling their crude productions for one more month, OPEC stated on Tuesday, June 9th.

    Iraq's Minister of Oil Ihsan Abdul Jabbar Ismaael said in a phone call with Saudi Arabia's Energy Minister Prince Abdul Aziz Bin Salman that his country's full commitment to the decisions taken by OPEC+ nations last Saturday, according to the statement.

    The two ministers mentioned the current conditions and new oil market improvements, and the efforts assumed by the 23-member nations of OPEC+ to reestablish balance and stability to the international oil market, it added.

    The Iraqi minister said, "Highlighted Iraq's support of these efforts and its commitment to the voluntary oil production adjustments of June and July 2020, as well as the voluntary adjustments for the period following the end of July, despite the economic and financial challenges."

    "These adjustments are in the interest of oil market stability," the statement added.

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