BAGHDAD / Oil Minister, Jabbar Ali Hussein Laibi confirmed that producers' commitment to the decision to cut oil production would be an important factor for the stability in the market, expressed his hope in the stability of the oil market during the first half of next year. "
He said in a statement today that "Iraq will take part in the OPEC's meetings with producers from outside the organization in Vienna next Saturday," stressing that "the OPEC's decision to cut oil production and the response of the producing countries outside OPEC is an important step that will control the glut of oil supply in the global market in the coming period and contributes to increase oil prices gradually. "
He added that "the commitment of all oil-producing countries from inside and outside the organization will be important and weighty factor in stabilizing the oil market to achieve common goals.
He added, "Iraq has been and is still working on stability of oil markets and maintain the unity of OPEC and common responsibility for the producers requires at this stage to develop effective solutions for the recovery of prices and the stability of the oil market,"
Source: National Iraqi News Agency