OPEC+ Seeking to Limit Challenges Facing Oil Market Stability: Iraq Oil Minister
TEHRAN (Tasnim) – The alliance of the oil producers comprising members of the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC members known as OPEC+ is seeking to curb the challenges affecting the stability of the global crude oil market.
OPEC+ is working to limit the challenges affecting the stability of the oil market, the Iraqi oil minister said.
Hayan Abdel-Ghani also stated that the country is keen to increase its revenues from oil despite challenges in the market, arabnews.com reported
“Iraq’s oil ministry is keen to achieve an increase in revenues derived from its oil export revenues despite the challenges facing global markets,” he added.
Since November, voluntary output cuts by OPEC+ have allowed member states like Iraq to achieve the highest rates of balance between supply and demand, helping them achieve stability in the global oil market, the Iraqi oil ministry added.
