OPEC must work quickly to restore balance in global oil market, says Falah al-Ameri

(IraqiNews.com) Baghdad – On Wednesday the President of State Organization for Marketing of Oil (Sumo) Falah al-Ameri stressed the need for the states of OPEC as well as the non-member producers to work quickly to rebalance the global oil market, while pointed out that the price fluctuation has nothing to do with Iraq’s oil production.

Ameri said at Argus Conference on Crude Oil in the Middle East, held in Abu Dhabi, according to Reuters, “The collapse and the fluctuation of oil prices has nothing to do with the production of Iraq’s oil, which is growing at a steady pace each year.”

Ameri added, “States of OPEC and outside must move quickly to restore the balance of oil supply and global demand,” noting that, “Iraq’s oil production reached 4.775 million barrels per day in January, and that Iraq exports amounts to nearly four million barrels per day.”