Trilateral Meeting on Importance of Maintaining Stability, Balance in Global Oil Markets Held in Iraq

A trilateral meeting was held in the Iraqi capital, Baghdad, this morning, involving Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz Al Saud; Deputy Prime Minister of the Russian Federation Alexander Novak, in their capacities as the chair and co-chair of the OPEC+ group; and Deputy Minister for Distribution Affairs at the Ministry of Oil of the Republic of Iraq Ali Maarij Al-Bahadli.
 The participants in the meeting emphasised the importance of maintaining stability and balance in global oil markets and commended the role played by the OPEC+ group in this regard.
 They also highlighted the significance of cooperation among OPEC+ member states and their full commitment to the agreement, including the voluntary production cuts agreed upon by eight member states, as well as compensating for any increases in production.
 For his part, the Deputy Minister for Distribution Affairs at the Ministry of Oil of the Republic of Iraq reaffirmed Iraq's seriousness and determination to fully comply with the agreement, implement the voluntary cuts, and compensate for excess production in line with the updated schedule submitted by the Republic of Iraq to the OPEC Secretariat.