Iraqi Oil Ministry: OPEC+ Does Not Respond Quickly to Market Challenges

The spokesperson for the Iraqi Oil Ministry, Asim Jihad, stated today, Thursday, that "security events are one of the important factors in the instability of global markets, but the OPEC+ group does not deal with quick reactions to the challenges facing the market." In an interview with Reuters, Jihad said, "Achieving the goal of stability and balance in global markets is one of the group's top priorities," noting that "the impact of security events on supply and demand flows depends on the duration of those events." He added, "OPEC+ is keen to achieve consensus regarding decisions," pointing out "Iraq's commitment to the voluntary production cuts implemented by the group."