In Baghdad the Global oil market is improving and stabilizing as stated by Saudi Oil Minister Khalid al-Falih said in Baghdad on Saturday, 21, 2017. Speaking later with reporters, he said Saudi Arabia and Iraq were in agreement on the need to fully comply with cutbacks in crude output agreed by Opec, Russia and several other producers to push up prices on global level.
The market has improved a lot but still some way to go adding that the compliance of the 24 nations taking part in the cutbacks deal exceeds 100%.
The Saudi Oil Minister Falih is the first Saudi to make apublic speech in Baghdad for several decades.
the best example of the importance of cooperation between our two countries is the improvement and stability trend seen in the oil market and to applause from the audience of Iraqi Ministers, senior officials and businessmen.
Saudi Arabia and Iraq are both the largest and second largest producers of the Organization of Petroleum Exporting countries.
