Oil Minister confirms the success of OPEC+ in facing the challenges of the global market

Baghdad-INA
Oil Minister Hayan Abdul Ghani confirmed on Monday the success of OPEC+ in facing the challenges of the world oil market.
 
The Ministry of Oil said in a statement received by the Iraqi News Agency (INA): “Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul-Ghani participated during a meeting that included a number of ministers from the OPEC+ group, which was held in the Saudi capital, Riyadh, on the sidelines of Climate Week activities in the region middle East and North Africa 2023,” indicating that “the meeting included a number of oil and energy ministers from the OPEC Plus countries, Iraq, Kuwait, Bahrain, Oman, the Kingdom of Saudi Arabia, the United Arab Emirates, and the Secretary-General of the Organization of the Petroleum Exporting Countries, OPEC.”
 
The minister pointed to "the success of the OPEC+ group in confronting the challenges facing global oil markets, thanks to realistic dealing with variables and market developments, the commitment of member states to the agreement to reduce production, and their keenness to achieve common goals in stabilizing global markets."
 
Meanwhile, Oil Ministry spokesman Assem Jihad said: “The ministerial meeting included a review of the conditions and challenges facing the oil market, and an agreement to continue consultation with all members of OPEC Plus through the established mechanisms, including the Joint Ministerial Production Monitoring Committee (JMMC) and meetings ministerial meetings of OPEC member states and non-OPEC participating countries (ONOMM), and confirmation of their renewed commitment to the decisions announced on June 5, 2023 (the thirty-fifth ministerial meeting of OPEC member states and non-OPEC participating countries), in addition to collective and individual voluntary production amendments.”
 
The ministers once again expressed the readiness of the countries of the Declaration of Cooperation to take additional measures if required, as part of their continuing efforts to support market stability and build on the strong cohesion of the OPEC Plus countries.