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Iraq is planning to support a decision on the freeze level of oil production

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Iraq is planning to support a decision on the freeze level of oil production

Iraq is planning to support a decision on the freeze level of oil production
August 31
15:00 2016

According to Reuters, on Tuesday Iraqi Prime Minister Haider al-Abadi made a statement that the country was going to support the decision of the OPEC  member countries to suspend the production of raw materials. This will be done to support oil prices.

An informal meeting of the countries, which participate in OPEC (The Organization of the Petroleum Exporting Countries),  is planned in Algeria. It will be held at the International Energy Forum, which will begin on 26 September.

Reuters said that Iraq, which is the second oil producing country, had not expressed its position clearly, sending “controversial” signals.

Last week Iraq’s Oil Minister said that the state’s government was going to play a “very active role” along with other OPEC countries in order to support prices.
A week earlier Reuters announced that Iran was likely to agree to suspend the production of raw materials after the Algerian OPEC meeting. The sources of the agency note that despite the general uncertain position of Iran, the leadership of the country is aimed at finding the understanding with other OPEC member states.

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