Algiers deals approval hinges on Iraq, Iran: Azerbaijan

Algiers deals approval hinges on Iraq, Iran: Azerbaijan

Adoption of a road map on Algiers agreements, reached after OPEC and non-OPEC meeting, will depend on positions of Iraq and Iran, which earlier rejected to cut oil output, Azerbaijan’s Energy Minister Natig Aliyev told reporters Oct. 29, Trend reports.

“Everything hinges on positions of countries, firstly, OPEC members, in particular, such countries as Iran and Iraq,” said Aliyev, RIA Novosti reported Oct. 29.

“Even if the majority of the OPEC countries commit to some extent to the existing mood, to the hopes of all the producing countries in the soonest stabilization of prices in the market and an increase in prices, countries such as Iran and Iraq are more interested today in increasing their oil production, increasing volumes, reaching the positions they have always had at the OPEC,” he added.

“Therefore, it is very important for us to have their point of view today, considering what can happen until the end of the year,” said Natig Aliyev.