Iraq expects agreement to stabilize oil prices

Business | 6 Dec 2018 7:24 pm

Iraq’s oil minister says he is confident that officials from major oil-producing countries will reach an agreement that will help stabilize the price of crude.

Thamir Ghadhban said as ministers from the Organization of the Petroleum Exporting Countries gathered Thursday that "the severe slide in the price in the last two months is not in the interest of all the OPEC members, and even non-OPEC members.”

He tells reporters the nations are "after a stable market and also a fair price for the producers as well as the consumers.”

He would not comment on specifics about a predicted cut to production, but says "I am optimistic there will be an agreement... (that) will stabilize the market, will stop the slide in the price.”-AP

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