Iraq Supports Saudi Arabia's Call For Urgent OPEC+ Meeting - Oil Ministry

CAIRO (UrduPoint News / Sputnik - 02nd April, 2020) Iraq supports Saudi Arabia's initiative to convene an urgent meeting of OPEC+, the country's oil ministry said on Thursday.

Earlier in the day, the Saudi state-run news agency SPA reported that Riyadh called for an urgent meeting of the countries participating in the oil production cut agreement and other states.

"Iraq supports the urgent meeting of OPEC+ in order to study the challenges in the oil market and take urgent measures to restore stability in the oil market, as well as restore the supply-demand balance," the ministry said, adding that oil minister Thamer Ghadhban sent a relevant letter to OPEC Secretary General Mohammad Barkindo.

The minister expressed confidence in the possibility of agreeing a formula that will meet the interests of all parties and will gradually restore stability in the global market.

Earlier on Thursday, US President Donald Trump said he had discussed with Saudi Crown Prince Mohammad Bin Salman the situation in the global energy market, suggesting that Riyadh and Moscow could reduce production by a total of 10-15 million barrels per day.