Oil Ministry issues clarification on production rates and the latest OPEC agreement

Saturday 18th April 2020 - 20:53

Oil Ministry issues clarification on production rates and the latest OPEC agreement

Baghdad - INA

 

 Today, Saturday, the Ministry of Oil issued a clarification statement on the reasons for Iraq's participation in the international meeting of OPEC member countries and oil exporting countries outside the organization.

 A spokesman for the Ministry of Oil, Assem Jihad, said in a statement received by the Iraqi News Agency (INA), "The ministry's statement comes to inform the local public opinion who is interested in the supreme interest of the country in the most important public treasury resource represented by crude oil in terms of production and export and the financial returns resulting from that."  .

 He added that "the Ministry of Oil lists the most important facts and reasons for participation in the international meeting held for the period from the ninth to the twelfth of this month, which included OPEC member countries, including Iraq, and the countries producing and exporting crude oil from outside the organization, as it participates with the countries of the organization  With responsibility towards correcting the path of the oil market, achieving a balance between global supply and demand for crude oil, achieving a fair price for both the producer and the consumer, as well as encouraging investment, within the framework of a cooperation pact more than three years ago and proven successful in this field.