Iraqi oil minister visits Saudi Arabia to talk OPEC, joint cooperation

Iraq's Oil Minister Jabar al-Luaibi speaks during a news conference in Basra, Iraq July 19, 2017. REUTERS/Essam Al-Sudani

DUBAI (Reuters) - Iraqi oil minister Jabar al-Luaibi departed for Saudi Arabia on Tuesday where he will meet his counterpart Khalid al-Falih to discuss oil market developments and OPEC’s efforts to stabilize the market.

The visit follows an invitation from Saudi Energy Minister Falih and Luaibi will be accompanied by a delegation of Iraqi energy officials, the Iraqi oil ministry said in a statement.

Luaibi will discuss “ways to strengthen and develop bilateral relations between the two brotherly countries, especially in the field of oil and gas, in a way that serves their common interests,” the ministry said.

Luaibi said in the statement that the two sides will discuss “oil market developments, coordination and the joint efforts to achieve the goals agreed upon at the OPEC meetings to try and stabilize the global oil market and support oil prices.”

They will also discuss joint cooperation in the oil and gas sector.

The Iraqi delegation will also visit state oil company Saudi Aramco, two sources said.

Reporting by Rania El Gamal; Editing by Susan Fenton