Iraqi oil minister optimistic that OPEC+ will reach deal

Monitoring Desk

MOSCOW: Iraqi Oil Minister Thamer Ghadhban is optimistic that OPEC+ countries will be able to reach a new agreement at the alliance’s upcoming meeting scheduled for 9 April, spokesman from Iraq’s Oil Ministry Asem Jihad said.

“Thamer Ghadhban, deputy prime minister for energy and the minister of oil, expressed optimism that a new agreement will be reached after conversations with the ministers of several OPEC+ countries. He described the mood as positive”, Jihad said, as quoted by Iraq’s INA agency. According to the spokesman, Ghadhban said that any new agreement needs the support of non-OPEC+ countries such as the US, Canada and Norway, the agency reported.

“Producers both inside and outside OPEC+ are in the same boat. All of them should take responsibility and bring this boat ashore to ensure stability by reaching a new output cut agreement, and deciding on the right path for achieving common goals”, Jihad quoted the oil minister as saying, the agency reported. Russian President Putin on 3 April stated that oil production could be reduced by approximately 10 million barrels per day, should OPEC+ nations coordinate jointly to each reduces output. (Sputnik)