Oil Minister: The collective agreement and solidarity in OPEC contributed to the stability of oil markets

Baghdad Minister of Oil and Minister of Oil, Ihsan Abdul-Jabbar Ismail, valued the great and important role of producers in “OPEC” and its allies in the stability of global oil markets after the crisis that afflicted the economies of the world’s countries and caused its stagnation, due to the repercussions of the spread of Covid 19.

The Minister said during his visit to the pavilion of the Ministry of Oil (OPEC in Baghdad) at the Baghdad International Book Fair, which bore the title “OPEC in Baghdad”: “The positive change that occurred in global markets came thanks to the cooperation of all producers from members of the Organization of Petroleum Exporting Countries and outside it through the implementation of a programmed and deliberate agreement to reduce oil production according to the requirements and needs of the market, as well as circulation, communication and joint coordination in order to develop successful solutions to the challenges facing the oil market.

Ismail stressed the importance of the role of “OPEC”, which emerged from Baghdad (60) years ago, in stabilizing global oil markets, and that the Ministry is interested in celebrating this occasion in Baghdad and in the People’s Hall, which hosted the first meeting of the organization in 1960.

He continued, “The organizing committee, in coordination with the “OPEC” organization, is based on the preparation and good organization of cultural, artistic, heritage and folklore paragraphs that illustrate the importance of this occasion, which started from Baghdad, Dar al-Salaam, and that the media committee is promoting this celebration in the book fair by showing spots and documentaries about OPEC, due to the importance of this cultural event, which is of great interest to the public and intellectuals.”

Source: National Iraqi News Agency