Iraqi Oil Minister Hayyan Abdul Ghani during his participation in the OPEC+ Ministerial Meeting
Dec 04, 2022 06:07 PM
Mubasher: Deputy Prime Minister for Energy Affairs and Iraqi Oil Minister Hayyan Abdul Ghani confirmed that the OPEC+ alliance adheres to the previously scheduled production agreement and the rate of reduction until the end of next year 2023, taking into account changes and emergency developments.
Abdul Ghani said, after participating in the ministerial meeting of the OPEC+ alliance, that the meeting stressed that more necessary measures will be taken against oil market developments if required, in order to maintain the required balance and achieve more stability in light of the circumstances and challenges facing global markets, according to a statement by the Ministry of Oil.
Ghani pointed to the agreement on all the topics discussed, including with regard to the Ministerial Committee for Production Control, the call for emergency and necessary meetings, and the importance of full compliance with the agreement and the compensation mechanism.
The meeting was attended by the Director General of the Iraqi Oil Marketing Company “SOMO” Alaa Al-Yasiri, and the representative of Iraq to OPEC.