Llmrbed oil Minister: Iraq must take place in marketing quotas for OPEC

Saturday 24 September 2016-02:09 pm

Jabbar oil Minister Iraq parking flaw with head to freeze oil production rates acceptable limits based on what is available in the market of supply and demand levels, indicating in a phone call from State radio Algeria Marbad that decision by OPEC and other countries serve outside the Organization and contribute to the improvement of oil prices in the world market is significantly the financial returns comes Iraq and other oil countries.

Alaibi revealed that oil ministers from Member States of the Organization of petroleum exporting countries (OPEC) will hold a meeting on Monday the 26th of September, followed by a preliminary meeting and then an extraordinary meeting of OPEC yet, expecting it to be during the extraordinary meeting on 27 and 28 September.

And take it for my fault that Iraq's approval for that heading would be conditional on taking into account that Iraq possessed vast stocks of hydrocarbon wealth of oil and gas production and it must take place in marketing quotas for OPEC and about 5 million barrels a day being incompatible with established organizational policy and maintain a balance in the oil market on the one hand and the levels of supply and demand on the other leads to maintain reasonable prices in global markets.

Algerian Energy Minister, Nourredine he, had said earlier last week that his country would seek to convince the members of the Organization of petroleum exporting countries (OPEC) production installation, during the informal meeting scheduled for the day after tomorrow in Algeria on the sidelines of the International Energy Forum.

OPEC Member States and fourteen oil exporter will hold talks in Algeria on 28 September on the sidelines of an international forum for current energy, to discuss ways of addressing the crisis of substantial increase in supply on the world oil market, compared with demand resulting in crude prices fell by more than half since the middle of the designated arrival and meeting participants may consider including countries outside OPEC, like Russia, proposals to reduce production.