Oil Minister Jabbar al-Luaibi said on Wednesday that Iraq strongly supports the decisions of the Organization of Petroleum Exporting Countries (OPEC), adding that the issue of extension of production cuts is very important during the OPEC ministerial meeting to be held at the headquarters of the Organization on Thursday.
Al-Luaibi said in a press statement that “Iraq as a founding member and active in OPEC will continue to commit to the decision to reduce oil production, noting that the duration of the reduction will be subject to the discussion of ministers tomorrow to take appropriate action.”
“The country is satisfied with the current price levels and is very keen on the stability of the global oil market, pointing out that the market is currently moving towards stability, although not entirely.”

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