Iraq Confirms that OPEC+ on Oil Production Quotas is Attached to Market Stability and Requirements

Baghdad, Oct. 18, 2022, SPA -- The Republic of Iraq confirms that OPEC+ oil production quotas is attached to market stability and requirements. In a statement, the Iraqi foreign ministry said that it is following the responses of OPEC+ decision on oil production cuts and its repercussions, adding that the approach adopted within the cartel reflects a technical vision attached to oil market stability and requirements, regulating the offer and demand process and protection of producers and consumers alike. The statement added that the ministry rejects any policy aiming to mount pressure and supports the cartel's position, particularly the Kingdom of Saudi Arabia. --SPA