Oil Minister: We must control all of Iraq on the market and is determined to increase its oil production next year

He stressed the importance of reaching an agreement to help raise prices

He saw oil minister Adel Abdul Mahdi, that the Organization of Petroleum Exporting {} should not alone bear the burden of reducing oil production. Mr. Adel Abdul-Mahdi said in a press statement he made to reporters after the end of the OPEC meeting in Vienna that "the Organization should not alone bear the burden of reducing oil production." "We must be in control of all on the market," noting that he "is not obligatory only for OPEC to effectively regulate the market." He asked. "If producers are not members of OPEC do not have a roof on a production so why OPEC should have a roof?" The oil minister also announced Iraq's intention to increase its production of crude oil in 2016. The next year, he said Mr. Adel Abdul-Mahdi said Iraq "will continue to increase its production next year after being reduced sharply in 2015". The minister's comments come after Mr. OPEC countries decided to raise the level of production 1.5 million barrels per day, to be a daily total of 31.5 million barrels. Meanwhile, the oil minister said he hoped to reach an agreement to help lift oil prices, considering that the fair price of oil 7075 dollars per barrel. He quoted Mr. Adel Abdul Mahdi said on the sidelines of the OPEC meeting that "the average price of Iraqi crude production will rise 4.5 million barrels per day in 2016," asserting that "Iran has the right to increase production." The oil minister said in response to a question whether the country was ready to install production at the current level, that "Iraq will remain on the crude oil production plans. He was the oil minister of Iraq's readiness to discuss the proposal by Saudi Arabia to cut OPEC output. Mr. Adel Abdul-Mahdi said in response to a question about media reports of a new Saudi proposal to cut OPEC production coordination with producers from outside the organization, "we are ready for an open discussion" in this regard. The Saudi Oil Minister Ali al-Naimi said he would propose to the Organization of Petroleum Exporting Countries [OPEC] at its meeting Friday to cut output between 1.5 million to two million barrels per day. Al-Naimi said, "It should be for OPEC to agree on a sharp reduction in oil production to prevent a drop in crude prices," expected "decline in oil prices from $ 20 if OPEC does not act to curb the excesses of production at its meeting this," stressing "We must work hard in order to convince everyone in OPEC to this proposal. " For his part, Iraq called on the Organization of Petroleum Exporting Countries OPEC observe faithfully the current production ceiling, "the organization warned of" deterioration "in prices. A spokesman for the Oil Ministry, Assem Jihad, in a press statement which emphasized the need for "strict adherence to the ceiling of the current production of 7.21 million barrels per day, and through coordination with other oil-producing countries outside of OPEC," adding that "the worsening oil surplus end of winter threatens danger Low prices and degradation for the rest of the year. " Jihad also stressed the need "for Member States to abide by severe production quantities allocated to them and to refrain from production above quota under OPEC decisions sixth arrived surplus in recent months in which more than 3 million barrels per day." He pointed out that "Iraq's position in the meetings will focus on the adoption of the current and projected abundance of oil supplies and the continuation of large increases in production from outside OPEC and weak demand for oil market realities."