Oil Minister: Iraq begins to cut production procedures in line with OPEC 's decision




Views 51 Date 05/01/2017 - 17:49

Economy News / Baghdad ...


The Minister of Oil Jabbar Ali Hussein Allaibi that Iraq has begun to reduce the national production of crude oil with the beginning of the new year 2017 procedures in line with the Organization of Petroleum Exporting Countries "OPEC" decision.

The oil minister said in a statement obtained by "Economy News", a copy of "Iraq reaffirms its commitment to the decision of" OPEC ", which was adopted at the last meeting in Vienna by putting a deliberate plan to reduce output from the country's fields with the beginning of the new year and that Iraq deal wisely with this file ".

He Allaibi that Iraq is working with producers inside and outside OPEC to control the oil supply glut in the world oil market and achieve the required balance between supply and demand and to support oil prices in the next stage.

Stressing that the decision to cut oil production is to address the problem of low oil prices in the global market and will no longer be needed if the producers to achieve the goals.



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