Saudis ready to export more oil to Iraq

12 Aug 2017   Iraq, Saudi Arabia

After discussions on compliance with an OPEC-led effort to balance the market, Saudi Arabia’s energy minister said Iraq could be the target for more exports. Saudi Arabia and Iraq are the top two oil producers among members of the Organization of Petroleum Exporting Countries. Saudi Arabia has taken a “whatever it takes” stance on a multilateral effort to balance an oversupplied market for crude oil with production declines, while Iraq is said to be the least compliant among parties to the arrangement. Saudi Energy Minister Khalid al-Falih said his country was willing to “open all fields” in order to improve bilateral relations with its ally, Iraq. “The minister said that the kingdom is keen to supply Iraq with Saudi exports of […]

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