Baghdad – INA – Amna Al-Salami
Today, Monday, the Ministry of Oil revealed the mechanism of work of the Ministerial Committee to monitor global oil markets, while noting Iraq’s active role within the committee.
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The spokesman for the Ministry of Oil, Asim Jihad, told the Iraqi News Agency (INA): “Iraq is a member of the Ministerial Committee for Production Monitoring, which was formed in the “OPEC” and “OPEC Plus” groups, and consists of ministers from within the two groups, and its meetings are held in person or through the department. TV.
Jihad added, “The committee’s meetings include reviewing developments in the global oil market, challenges, and positive and negative influences. In light of that, recommendations are made. The meetings aim to maintain the stability of oil markets and the balance between supply and demand.”
He pointed out that “the gains achieved within OPEC Plus over the past years came through solidarity and unity of decision, which reflected positively on the oil market and facing challenges,” warning that “there are influences facing the oil market, including political, security, wars, and problems, in addition to Regarding speculation in the oil market and economic influences, all of which are factors that affect the stability of global oil markets.”
He pointed out, “The Ministerial Committee presents recommendations that help the OPEC Plus group achieve its goals of stability and balance in the global oil market,” noting that “Iraq is an active member of the Ministerial Committee and has an important role in this framework.”
