29 Mar 2024
Saturday 29 October 2016 - 15:13
Story Code : 236873

OPEC confirmation of oil freezing deal to depend on Iraq, Iran

OPEC decision to freeze oil production will depend on the positions of Iraq and Iran, Azerbaijani Energy Minister Natik Aliyev said on Saturday.

VIENNA (Sputnik) Adoption ofa roadmap onthe decisions made bythe Organization ofthe Petroleum Exporting Countries (OPEC) inAlgeria onfreezing oil production will depend onthe positions ofIraq and Iran, Azerbaijani Energy Minister Natik Aliyev said onSaturday.

Everything will depend onthe position ofcountries, primarily, OPEC members such asIraq and Iran, Aliyev said.

He noted that these two countries were interested inincreasing oil production and returning their positions onoil markets.

That is why it is important forus toknow their point ofview today taking intoaccount what can occur tillthe end ofthe year, Aliyev added. On September 28, OPEC member states agreed oncutting its oil production to32.5-33 million barrels per day forthe whole cartel, however, no exact limits foreach country have been placed. The OPEC countries are set tofinalize the agreement onoil output freeze atthe OPEC summit inVienna onNovember 30.

By Sputnik News
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