Iraq will support the decision to freeze oil production at the OPEC summit in September, in order to maintain prices for black gold. This was stated by Prime Minister Haider al-Abadi, according to Reuters.
The meeting of OPEC could happen in Algeria in the International energy forum, which will take place 26-28 September. Lately, the prospects for positive negotiations is a subject of debate, influencing world markets.
The words of the Iraqi Prime Minister on a press-conferences on Tuesday were the most clear evidence for today, the second largest OPEC exporter to support an agreement if one is reached.
The income of Iraq is 95% dependent on oil exports. Its economy is weakened by low oil prices and high costs of opposing the Islamic state, to grab large chunks of Iraqi territory.
The largest oil producer within the cartel, Saudi Arabia and Iran had previously stated that they would not support the freezing of oil.
In turn, Tehran, wants to regain its share of the world oil market after the lifting of international sanctions, OPEC has exposed the conditions under which support cartel agreement.