Iraq calls for improved oil prices

Iraq calls for improved oil prices

Iraqi Oil Minister, Adel Abdel Mahdi, on Saturday called for collective measures of the petroleum exporting countries to improve oil prices.

 

He made the remarks at the end of the extraordinary session of the Gas Exporting Countries Forum.
Abdel Mahdi said unity of the OPEC members should be preserved to address the irregularities of the oil market.
Briefing reporters on current situation of the world crude oil markets, Mahdi said the world crude markets are experiencing unwarranted hardship.
He said that for the time being, the market experiences over-supply and the crude prices are at unacceptable low level.
He hoped that the oil prices will improve as early as 2016.
'We should wait and see what decision will the OPEC members made on the December 4 meeting in Vienna, Austria.'
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