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Iraq agrees OPEC oil output freeze is needed

by ChemOrbis Editorial Team -
  • 31/08/2016 (15:43)
According to media reports, Iraq Prime Minister Haider al-Abadi stated at a news conference that Iraq would support a decision by OPEC to freeze oil output in order to increase prices.

In his statement, al-Abadi clearly indicated that Iraq supports freezing production were such a decision to be taken by OPEC. Members of OPEC will come together at the International Energy Forum which will take place in Algeria on September 26 to 28.

Oil Minister Jabar Al Luaibi underlined Iraq’s plans to play “a very active role” along with the other members of OPEC in order to back up prices. Iraq also raised its output, which is at about 4.6 million barrels per day nowadays.
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