Iraq stated today, Tuesday, that it rejects any strategy intended to pressure or threaten the Organization of Petroleum Exporting Countries (OPEC) and its allies, and that it supports Saudi Arabia’s position in the organization’s efforts to maintain oil market stability, manage the supply and demand cycle, and safeguard the interests of producers and consumers.
According to a press release from the Iraqi Ministry of Foreign Affairs, it is monitoring “reactions to the OPEC decision and its allies about the reduction of oil production and the relations of the decision.
The path that was chosen within the organisation, the ministry emphasised, “expresses a technical vision linked to the stability of the oil markets and its requirements, organising the process of supply and demand, and protecting the interests of producers and consumers, and must be approached on technical foundations, in its economic context, and through a collective agreement between OPEC countries and their allies.
The ministry “calls for the necessity of dealing with every dispute pertaining to this issue through the natural ways and in the context of the balanced direct dialogue, and reflects the importance of the international partnership in the efforts to devote security and stability in the region and the world,” the statement said.
Iraq rejects any threat or pressure to preserve the stability of the oil market by OPEC decisions and its allies.
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