Oil: We seek to conclude an agreement with the OPEC countries to increase oil prices and protect it from collapse

Author: BS, ZJ
Editor: the AT, BS

2015/12/02 18:17

Long-Presse / Baghdad
The Ministry of Oil, on Wednesday, seeking to reach an agreement with the countries of "OPEC" to raise the price of oil and keep it from the repercussions of the collapse, and as pointed out their participation in the meeting of Petroleum Exporting Countries to be held next Thursday in the Austrian capital, Vienna, drew to it reflect on Access member states to decisions that will serve the interests of all.

A spokesman for the Oil Ministry, Assem Jihad, in an interview with the (long-Presse), "The Iraqi delegation led by Oil Minister Adel Abdul-Mahdi, and the representative of Iraq in OPEC will leave today to participate in the meetings of the Organization to be held in Vienna next Thursday."

Jihad said, "The OPEC meeting is very important, especially since it comes at a time experienced by oil prices, a big drop and this source of concern for many members," stressing that "Iraq will seek to urge the members to make a decision contributes to raising oil prices and the preservation of the repercussions other. "

Jihad explained, that "Iraq always seeks to maintain a balance between supply and demand, and the OPEC meeting this enhances the Organization's role in maintaining the stability of oil prices in world markets and to serve the interests of producers and consumers," pointing out that "Baghdad hopes to unite the views of in order to make a decision is in everyone's interest. "

He said a spokesman for the oil ministry, that "the meeting of OPEC countries could contribute to a review of the previous period experience and benefit from the improved performance of the organization that you can not at previous meetings of the right decision to take to stop the repercussions of the collapse in oil prices due to the intransigence of some of its members and their insistence on the survival of production levels of without change, affecting the interests of the members of this dispute and the organization's objectives. "

The OPEC decisions require that the consent of all members but not a majority, which allowed for Saudi Arabia and the Gulf states oppose the reduction of production in the previous meetings.

Oil prices fell to below half the level of which weighed heavily in the budget for Iraq in 2015.