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Secretary General of OPEC announces a forthcoming consultative meeting in Istanbul to discuss the decision to cut oil production.

BAGHDAD / National Iraqi News Agency / nina / The Secretary-General of the Organization of Petroleum Exporting Countries (OPEC), Mohammad Barkindo announced that a consultative meeting will be held on Wednesday with Ministers of Energy who are present in Istanbul to discuss the decision that was taken in Algeria last meeting to reduce oil production of the Member States of the Organization . Barkindo described, in a press statement in Istanbul, which is witnessing the 23rd World Energy Conference from 9 to October 13 / October of this month, the decision taken by the OPEC countries in the informal meeting, which was held last month in Algeria as "decisive." The Secretary General of OPEC stressed the need to adhere to the strict implementation of what came in the Algiers meeting of the restrictions on oil production. He pointed out that the energy conference in Istanbul, which will be held with the participation of four Heads of states, and more than 250 Ministers and Executive Managers of the world's largest companies, is an opportunity for the collection of oil-producing countries with the importing countries. Barkindo, said in a speech during the 23rd global energy conference today, that the driving force behind the cycle of world oil prices was due to increased supply. He stressed that the session referred to, was the most dangerous course in world oil prices over the past years, and that prices have seen a sharp decline in 2016 compared to 2014./ End

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Publication:National Iraqi News Agency
Date:Oct 11, 2016
Words:259
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