Oman’s Oil Minister Calls On OPEC And Independent Members To Continue Cooperation

Baghdad, Omani Oil Minister Mohammed bin Hamad al-Rumhi called on all OPEC members and independent producers participating in the global agreement to reduce supplies to continue their cooperation in order to maintain favorable conditions for oil investments in the market.

“There is no doubt that the situation is better than yesterday, but it is not over yet,” Al-Rumhi told a news conference in Kuwait City.

The OPEC has reached an internal agreement to extend oil production cuts until the end of 2018 during the meeting of its members, while the Organization is striving to complete the removal of abundance in the global supply of crude and rebalancing the markets.

Source: National Iraqi News Agency