Iraqi Oil Minister: OPEC+ Alliance Proves It Accurately Reads the Market

Iraqi Oil Minister Hayan Abdul-Ghani stated today, Friday, that the OPEC+ alliance will not hesitate to make any decisions that achieve further balance in the oil market. On the sidelines of OPEC meetings in Vienna, the Iraqi minister remarked that the OPEC+ alliance has proven it accurately reads the market and will not hesitate to make any decisions to create more market balance. He affirmed that OPEC+ will make decisions that serve consumers, producers, and investors. In another context, Abdul-Ghani indicated that his country is still negotiating with Turkey to resume oil exports from the Kurdistan region. OPEC+ sources told Reuters today that "the alliance is considering possible options for its meeting scheduled on June 4, including an additional reduction in oil production by around one million barrels per day."