Iraq oil ministry said today that they are in touch with OPEC+ members to discuss ways to stop prices collapse and added that the flooding markets not in favor with producing countries.
In a statement Thamer Ghadhban, Iraqi oil minister said, “the oil ministry is in contact with members inside and outside OPEC to discuss ways to prevent deterioration in oil prices.”
A ministry spokesman said that flooding oil markets was not the best interest of producing countries and that a price war to acquire larger market share doesn’t sever producing countries.
