Saudi-Russian-Iraqi meeting confirms importance of OPEC+ cooperation and full commitment to the deal

Iraqi Prime Minister Mohammed Shia al-Sudani received Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy, and Alexander Novak, Deputy Prime Minister of Russia.

The meeting included discussions on the situation of global oil markets, the importance of maintaining their stability and balance, and the essential role played by the OPEC Plus group in this regard.

A tripartite meeting was also held today, in which Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy, and Alexander Novak, Deputy Prime Minister of Russia, participated, in their capacity as Chairman and Co-Chair of the OPEC Plus group, and the Undersecretary for Distribution Affairs at the Ministry of Oil in Iraq, Ali Maaraj al-Bahadeli.

The participants in the meeting stressed the importance of maintaining the stability and balance of global oil markets, and noted the role played by the OPEC Plus group in this regard.

They also stressed the importance of OPEC Plus countries’ cooperation and full commitment to the agreement and voluntary cuts, including the voluntary cuts agreed upon by the eight countries, and to compensate for the increase in production.

For his part, the Undersecretary for Distribution Affairs at the Ministry of Oil in the Republic of Iraq confirmed Iraq’s seriousness and determination to fully adhere to the agreement, voluntary reductions, and compensation for the increase in production, according to the updated schedule submitted by the Republic of Iraq to the OPEC Secretariat.