Saudi Arabia, Iraq affirm commitment to OPEC+ deal

OPEC+ Technical Committee commits to production cuts by 159%

 Saudi Arabia’s Crown Prince Muhammad Bin Salman, deputy prime minister and minister of defense; had a conversation with Mustafa Al Kadhimi, the Prime Minister of Iraq, on the global oil developments.

During the conversation, they also discussed efforts in order to stabilize and rebalance global oil markets; according to the Saudi Press Agency.

In addition; they stressed the importance of compliance; by all participants; to the OPEC+ agreement and the concurred upon compensation mechanism. They also discussed bilateral relations between the two countries and opportunities for their further development.