Oil Minister confirms OPEC+ success in facing market challenges
The logo of OPEC. Photo: AFP
Baghdad (IraqiNews.com) – The Iraqi Minister of Oil, Hayan Abdul-Ghani, confirmed on Monday the success of OPEC+ in facing the challenges of the global oil market.
The Iraqi Oil Ministry mentioned in a statement that Abdul-Ghani’s remarks took place during his participation in a meeting with ministers of OPEC+ member states held in the Saudi capital, Riyadh, on the sidelines of the MENA Climate Week 2023.
Oil and energy ministers of Iraq, Kuwait, Bahrain, Oman, Saudi Arabia, and the UAE, as well as the Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), attended the meeting.
Abdul-Ghani explained that the commitment of member states to the agreement to reduce production and their keenness to stabilize global markets helped them face global challenges.
Iraq’s Oil Ministry spokesman, Assem Jihad, said that the ministerial meeting included a revision of the conditions and challenges facing the oil market and an agreement to continue consultation with all members of OPEC+.
The ministers expressed their countries’ readiness to take additional measures if required as part of their continuing efforts to support market stability.