Iraq sets ceiling on oil production before Algeria meeting

Dhaka,  Monday,   2016-09-23
Published : 23 Sep 2016, 20:19:52

Iraq sets ceiling on oil production before Algeria meeting



BAGHDAD, Sept 23 (AP): Iraq's Oil Minister said his country supports any deal to prop up oil prices in the international market ahead of next week's meeting of oil producers in Algeria, adding that fluctuating prices have badly affected the producers.

Members of the Organization of the Petroleum Exporting Countries and non-OPEC producers are scheduled to meet Sept. 28 in Algeria in a bid to reach a deal to boost prices by limiting oil production. In April, oil producers met in Qatar to discuss the proposal but failed to agree on a cap after Iran, which wants to boost exports after years of sanctions, refused to join in.
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