2024-02-01T13:02:57+00:00
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/ Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul-Ghani stated on Thursday that the members of the OPEC Plus ministerial meeting to monitor production decided to keep production levels unchanged.
The Ministry of Oil quoted Abdul Ghani in a statement as saying: The meeting included the Ministerial Committee’s review of the oil production data and reports of the member states for the months of November and December 2023, which witnessed the coalition countries’ great commitment to the production adjustments and the established quotas.
For his part, the Director General of the Iraqi Oil Marketing Company, Ammar Al-Anbaki, said: The (52) ministerial meeting to monitor production in the OPEC Plus alliance, which was held today, Thursday, February 1, 2024, decided to keep production levels without modification, adding that this measure comes to achieve more stability and balance between supply and demand in global markets.
For his part, the spokesman for the Ministry of Oil, Asim Jihad, said: The ministerial committee will continue to monitor developments in the oil market during the coming months, and the extent of the compatibility and impact of adjustments to production levels on the oil markets, in addition to evaluating market conditions, challenges, variables and their effects on supply and demand.
He added that the members of the Ministerial Committee decided to hold the next meeting on the third of next April.
It is noteworthy that the Ministerial Committee for Monitoring Production includes a number of member states of the alliance, including Iraq, as it monitors the production of member states, in addition to developments in global markets, challenges and influential factors, with the aim of submitting recommendations to the OPEC Plus Ministerial Meeting in order to work on it, in order to achieve its goals in stabilizing global markets.