Iraq, Saudi Arabia review oil prices in Baghdad

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Iraq, Saudi Arabia review oil prices in Baghdad

Under the auspices of OPEC, Iraq’s prime minister, Mohammed Shia Al-Sudani, underlined the need of cooperating with Saudi Arabia to manage the energy market and oil prices.

According to a statement issued by the Prime Minister’s Office (PMO), Al-Sudani made his remarks during his meeting with the Saudi Minister of Energy, Abdulaziz bin Salman Al Saud, and his accompanying entourage, on Wednesday.

The discussion included prospective areas of cooperation as well as chances for Iraq and Saudi Arabia to strengthen their economic relations.

The Saudi companies’ entry into the Iraqi market, which presents a wide array of fantastic investment opportunities, was welcomed by the prime minister of Iraq. This shows that the two nations’ relations have advanced, especially in the areas of investment, development, and infrastructure pertaining to the energy sector.

Al-Sudani clarified that collaborating with Saudi Arabia to manage the global energy market and oil prices will protect the interests of producing and consuming nations alike as well as the stability of the energy markets in the region and throughout the world.

The Saudi Minister of Energy underlined how keen Saudi Arabia is to advance multilateral collaboration with Iraq.