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Iraq believes that now it is a good time for an agreement in the OPEC

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Iraq believes that now it is a good time for an agreement in the OPEC

Iraq believes that now it is a good time for an agreement in the OPEC
September 22
14:00 2016

On Thursday Falah al-Amri, the Iraqi representative in the OPEC organization, said that the situation in the world oil market favored the agreement among the OPEC Member States and the producers outside the cartel at the Algerian meeting.

“Today the things are a bit different than at the time of the meeting in Doha, as the situation on the market has slightly improved. In its turn this will help the oil producing countries enter into an agreement”, – in particular said al-Amri.

The largest producing states of the OPEC and the countries outside the organization, could not come to an agreement on the methods of supporting oil prices at the talks in Doha in April this year due to the fact that some contradictions had surfaced between Saudi Arabia and Iran that are the OPEC members. There are expectations that the countries will discuss the possibility of the oil production freeze at the meeting scheduled for 26-28 September in Algeria.

Making a speech at an energy forum in the Arab emirate of Fujairah, Al-Amri noted that a number of oil producers had come to strengthen their market position. Iran is among these countries. It has boosted the production after the sanctions were lifted. This means that now it is a good time to reach an agreement.

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