Oil Minister From Baku: Oil Producers Agreed To Abide By The Agreement To Cut Production

Baghdad, (NINA) -The Deputy Prime Minister for Energy, Oil Minister Thamer Ghadhban announced that OPEC and non-OPEC producers agreed to abide the agreement to reduce production in support of oil prices and stability of the oil market, pointing to signs of the rise in global stocks despite sanctions on some countries. Al-Ghadhban, and after the conclusion of the 13th meeting of the Joint Ministerial Committee to monitor the reduction of production between the Organization of Petroleum Exporting Countries (OPEC) and the major producers from outside, which was held in the Azerbaijani capital Baku, said "the Ministerial Council for Production Control has listened to the reports of the relevant committees from the meetings of the producers, which included an extrapolation of the global oil market and a review of schedules and production data for Member States, in order to achieve the goal of members commitment to the decision to reduce production and reach advanced proportions. "The ministerial meeting to be held next month in Vienna and the meeting in June this year will discuss the reduction of production and appropriate decision by the oil ministers, leading to more stability of the global oil market," Ghadhban said. Deputy Prime Minister and Minister of Oil Thamer Abbas al-Ghadhban met with the oil and energy ministers of Russia, Saudi Arabia, the United Arab Emirates, Kuwait and Azerbaijan. And discussed with them ways to strengthen bilateral relations and expand the horizons of cooperation and development and to serve the common interests. / End