Oil Minister Jabbar al-Luaibi said on Thursday that his country was optimistic and confident that OPEC countries would reach an agreement during the Vienna meeting.
Al-Allaibi said in an interview with a number of media and his follow-up "Economy News", confident of reaching an agreement, stressing that "very optimistic."
"There are two options," he said, adding that one of them is to increase oil production under the OPEC + agreement, which he prefers not to make changes to, and the maximum production levels of the participating countries.
He pointed out that Iraq would prefer not to change the agreement "OPEC +" and maximum levels of extraction, until the end of the year.
OPEC and several other countries agreed in late 2016 in Vienna to reduce their oil production by 1.8 million barrels per day (bpd). Russia has agreed to cut its extraction by 300,000 bpd.
This agreement was subsequently extended several times, and in November 2017, the agreement was extended to 2018 in full.
SOURCE
Al-Allaibi said in an interview with a number of media and his follow-up "Economy News", confident of reaching an agreement, stressing that "very optimistic."
"There are two options," he said, adding that one of them is to increase oil production under the OPEC + agreement, which he prefers not to make changes to, and the maximum production levels of the participating countries.
He pointed out that Iraq would prefer not to change the agreement "OPEC +" and maximum levels of extraction, until the end of the year.
OPEC and several other countries agreed in late 2016 in Vienna to reduce their oil production by 1.8 million barrels per day (bpd). Russia has agreed to cut its extraction by 300,000 bpd.
This agreement was subsequently extended several times, and in November 2017, the agreement was extended to 2018 in full.
SOURCE