Baghdad Deputy Prime Minister for Energy Affairs, Minister of Oil Hayan Abdul-Ghani chaired the crude oil pricing meeting, and stressed Iraq’s keenness to deal realistically with the challenges facing the global oil market.

The minister said in a statement, “Iraq respects the (OPEC +) agreement in achieving balance and stability for the global market, and that Iraq’s policy aims to raise the value or financial avenues of oil barrels in a way that fulfills the wishes of producers and consumers.”

He added, “We are working to achieve the highest financial revenues through the marketing and export of crude oil in support of the federal budget,” noting: “The financial revenues of crude oil constitute 95 percent of the federal budget.”

He pointed out: “Iraq is a founding country of the organization and the second largest producer, and it works to bring the views of the members closer, in order to achieve the producers’ goals in stabilizing the global market.”

Source: National Iraqi News Agency