Reuters logo
Iraq OPEC governor says market circumstances right for global oil deal
September 22, 2016 / 6:56 AM / a year ago

Iraq OPEC governor says market circumstances right for global oil deal

FUJAIRAH, UAE (Reuters) - Iraq’s OPEC governor Falah Alamri said on Thursday that oil market circumstances are now more favorable for OPEC and other oil producers to reach a deal to support the market when they meet next week in Algeria.

The logo of the Organization of the Petroleum Exporting Countries (OPEC) is pictured at its headquarters in Vienna, Austria, March 21, 2016. REUTERS/Leonhard Foeger/Files

“This time I think a little bit different (than in Doha) because circumstances are little bit better, helping (producers) to reach a deal,” Alamri said, when asked about the prospect of a global oil production pact in Algeria.

OPEC and non-OPEC producers are expected to revive a production freeze deal when they meet in Algeria on Sept. 26-28 after a similar initiative collaped in Doha in April because Iran refused to restrict its supplies.

Speaking at the Gulf Intelligence Energy Forum in Fujairah in the United Arab Emirates, Alamri said some oil producers have managed to reach a better market share than earlier in the year and Iran’s output is now higher after the lifting of sanctions, making the time for a deal is right.

Reporting by Rania El Gamal, Editing by William Maclean

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below