SAUDI ARABIA, IRAQ COMMITTED TO OIL OUTPUT DEAL

Vice Custodian of the Two Holy Mosques, Crown Prince Mohammad bin Salman bin Abdulaziz Al Saud, met with Iraqi Minister of Oil, Jabbar Al-Allaibi, here on Wednesday.

The two sides reviewed the implementation of agreement, struck by the OPEC member states, in the Algiers, late last year, to reduce oil production by around 1.2 mb/d to 32.5 mb/d, as of Jan, 2017.

They discussed the bilateral ties, with emphasis on coordination of the two countries' energy policies and cooperation, to maintain equilibrium on the global oil market.

The Iraqi minister conveyed the greetings and best wishes of the Iraqi leadership and people, to the Saudi leaders and people.

He appreciated the Saudi government's keenness on Iraq's stability, and its desire to strengthen the bilateral relations in all fields, in the interest of the people of both countries.

The two sides also explored the prospects of economic cooperation, particularly in the energy field, the opening of land ports, and direct flights to promote trade exchanges and private investment

Source: NAM News Network