The Iraqi delegation led by Alaa K. Alyasri, the acting director general of Iraq's Oil Marketing Company SOMO and the country's governor for the Organization of the Petroleum Exporting Countries (OPEC), will take part in the meeting of the OPEC-Non-OPEC Joint Ministerial Monitoring Committee (JMMC) in Algeria on Sunday, Iraqi Oil Ministry spokesman Asim Jihad told Sputnik on Thursday.
MOSCOW (Pakistan Point News / Sputnik - 20th September, 2018) The Iraqi delegation led by Alaa K. Alyasri, the acting director general of Iraq's Oil Marketing Company SOMO and the country's governor for the Organization of the Petroleum Exporting Countries (OPEC), will take part in the meeting of the OPEC-Non-OPEC Joint Ministerial Monitoring Committee (JMMC) in Algeria on Sunday, Iraqi Oil Ministry spokesman Asim Jihad told Sputnik on Thursday.
On Sunday, September 23, Algiers will host a meeting of the JMMC, bringing together ministers from Saudi Arabia, Venezuela, Kuwait, Algeria, the United Arab Emirates, Russia and Oman. The meeting will focus on the current situation on the global oil market, as well as on the countries' compliance with their commitments under the Vienna deal and their future cooperation.
"[At the meeting Iraq will be represented by] a delegation led by SOMO director general, Iraq's governor for OPEC, Alaa K. Alyasri, there also will be a representative of the [Iraqi Oil] Ministry. The situation on the [oil] market will be discussed, after which decisions will be taken," Jihad said.
In 2016, OPEC and several non-OPEC oil producers agreed to cut output by a total of 1.8 million barrels per day in an effort to stabilize global oil prices. The agreement, which came into effect in 2017, has been extended twice since then and will remain in force until the end of 2018. Iraq was initially seeking exemption from the deal due to the need to drive up output in the wake of its war with the Islamic State (IS, terrorist group outlawed in Russia), but has in the end complied with the cuts deal.
