Oil: OPEC represented an important historical turning point in the management and independence of producing countries

Baghdad - INA 

Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul Ghani confirmed today, Thursday, that the establishment of OPEC constituted an important historical turning point in the management and independence of producing countries.

A statement from the Ministry of Oil, received by the Iraqi News Agency (INA), said: “Iraq remembers with pride and honor this day, the fourteenth of September 2023, the anniversary of the founding of the historic Organization of the Petroleum Exporting Countries (OPEC), which was embraced by the People’s Hall in Baghdad, so that the organization constitutes a shining mark in the history of Iraq and the countries.” Arab and friendly oil producers.

In a letter published by the statement to the oil and energy ministers of the member states of the Organization of the Petroleum Exporting Countries (OPEC) and Secretary-General Haitham Al-Ghais, Abdul-Ghani stressed that the establishment of “OPEC” constituted an important historical and economic turning point in the management and marketing of oil and the independence of the producing countries, praising the great role it plays.” OPEC helps stabilize global oil markets.

Abdul Ghani pointed out, “The members agreed on the unity of position and word, when Baghdad embraced the five countries in the People’s Hall in 1969 to sign the declaration of the founding of OPEC. Ink on paper on September 14, 63 years ago, recorded an honorable position and a blessed step in a historical moment that secured for generations.” A free economy, and today we are following the path that our predecessors followed in their concern for the national wealth of their countries and their commitment to using oil optimally to be an economic support, with a national will that respects pacts with other countries for a position that grants people independence and optimal use of natural resources.”

The Minister of Oil continued, "Iraq confirms its commitment to the principles approved by the organization," praising the great role of OPEC member states and its Secretary-General in sincere and serious work to stabilize global oil markets.

For his part, spokesman for the Ministry of Oil, Assem Jihad, said: “Iraq stresses the importance of commemorating this occasion annually, and today we live under the shade of the first founding tree,” and added, “Celebrating the 63rd anniversary of the founding of OPEC confirms the validity of the path that OPEC adopted and from which it started.” Thanks to the combined efforts of all its members, to raise the organization’s voice and respect its charters and agreements and the correctness of its steps.”

Jihad continued, “OPEC today represents a distinguished model of union, commitment and cooperation among its members and allied parties, ensuring the stability of global oil markets, achieving a balance between supply and demand, protecting the climate from harmful emissions, and providing clean energy sources, as OPEC today stands on solid ground, owning The strong will and commitment to the pacts with the founding countries: the Kingdom of Saudi Arabia, the Islamic Republic of Iran, the State of Kuwait, the Republic of Venezuela and other countries, after the OPEC tree has grown with the joining of many countries that work for the good and well-being of their people and to secure their future.”

Jihad concluded by saying: “Iraq appreciates the presence of the Ministers of Oil and Energy of the Organization’s countries and its Secretary-General to Baghdad last June, and their participation in the celebration of the diamond anniversary of the founding of OPEC in Baghdad,” stressing that “Iraq will remain an incubator for all good efforts.”