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Iraq accuses oil producers

OPEC and other countries pledged to limit oil output and measures to boost crude prices

Afp June 12, 2018 Less than a minute read

039 producers who are or are not members of opec have not respected the set target and the price of petrol has not reached the desired level 039 photo reuters

'Producers who are or are not members of OPEC have not respected the set target... and the price of petrol has not reached the desired level' PHOTO: REUTERS

BAGHDAD: Iraq on Monday accused other oil-producing countries of extracting more barrels of crude than agreed by OPEC and its partners, ahead of a meeting of the cartel next week. “Producers who are or are not members of OPEC have not respected the set target... and the price of petrol has not reached the desired level,” said Oil Minister Jabbar al-Luaibi. In order to “reach a fair and consistent price, we need more support, stability and engagement from the producing countries for the agreement” reached in early 2017, he said in a statement. At the time, the Organisation of Petroleum Exporting Countries (OPEC) and other countries pledged to limit oil output and measures to boost crude prices. Despite making this commitment, Iraq itself regularly exceeds the limit, according to experts.

Published in The Express Tribune, June 12^th, 2018.

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