OPEC Secretary-General, Mohammad Sanusi Barkindo has met with the President of Iraq, Fuad Masum, in Baghdad.
The Iraqi President commended the OPEC Secretary-General on the successful meetings of the Organisation held among OPEC Member Countries and OPEC and non-OPEC oil producers, which led to the historic decisions taken at the 170th and 171st Meetings of the OPEC Conference, including the Declaration of Cooperation in late 2016.
Mohammad Barkindo expressed his deep gratitude to President Masum for Iraq’s support during the recent period of extensive consultations between OPEC and non-OPEC nations. "With your guidance, great encouragement and the support of your offices, we were able to reach these decisions that were beyond expectations," Barkindo added.
The Secretary-General reiterated the commendable key role of Iraq that was instrumental within OPEC to achieve market stability for both producers and consumers and said Iraq has resumed its leading role in the Organisation.
Later in the day, Barkindo met with Iraq’s Prime Minister, Haider Al-Abadi, the second such meeting in less than six months.
The two discussed the current market situation and means to rebalance the market within the framework of the recent decisions reached between OPEC and non-OPEC countries.
The Iraqi Prime Minister expressed his appreciation of the impartial role pursued by Barkindo and stressed that Iraq, despite its multiple challenges, will continue to support these decisions and their implementation.
Barkindo said that for January 2017, OPEC and non-OPEC nations achieved a conformity level of 86 percent and in February, the overall conformity improved further to 94 percent. He added that all 24 countries are committed to the process and are confident of making further improvements to reach the full and timely conformity of the decisions taken.