Undersecretary of the Iraqi Ministry of Oil to Roudao: relations between Erbil and Baghdad are based on mutual understanding

By Roudao 4 hours ago

Roudao - Vienna

Undersecretary of the Iraqi Oil Ministry, Hassan Fayad blessing, that relations between Erbil and Baghdad list on the basis of mutual understanding, adding that Iraq is now seeking to install oil production to increase prices.

He said grace, network Roudao media, on the sidelines of Ministers of the Organization of Petroleum Exporting Countries meeting in Vienna, said that "Iraq is no reason to increase production at the present time, but dialogue with all members to reach a satisfactory and suitable price, and the current goal is not to increase production, but to improve prices." .

He continued, "There are many factors that play a role in this regard, including the political and economic situation in the oil-producing countries inside and outside OPEC and OPEC supply and demand policy."

He explained, "When you combine the views of members during the ongoing meetings will have the ultimate say in this context, and at the present time we call for the installation of production in order to increase prices in order to help finance projects and investment, so that does not happen in the future imbalance between supply and demand."

The grace "We call for a discussion arises from the level of production, and are now discussing realized production, and in the light of this we will see how to improve the price problem does not occur in the future, such as the shortage of supply, as the demand is increasing in the past years."

With regard to the relationship between Erbil and Baghdad, and Undersecretary of the Iraqi Ministry of Oil, it is "based on the understanding there are no problems, and things are going properly and contacts are continuing in order to reach a final solution," he said.

The OPEC had warned earlier in the continuation of the surplus in oil supplies, and called on the OIC Member States and abroad to discuss ways to freeze production to improve prices.