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Saudi Arabia, Iraq to continue cooperation to ensure stability of global oil markets - joint statement

·1-min read
FILE PHOTO: The logo of the Organisation of the Petroleum Exporting Countries (OPEC) sits outside its headquarters in Vienna

CAIRO (Reuters) - Saudi Arabia and Iraq agreed on Wednesday to continue cooperation within OPEC and with full commitment to the requirements of the OPEC+ agreement, according to a joint statement carried by the Saudi state news agency (SPA).

Saudi Arabia and Iraq agreed on "the need to continue cooperation and coordination of positions in the petroleum field, within the scope of work of the Organization of Petroleum Exporting Countries (OPEC) and the OPEC + agreement, with full commitment to the requirements of the agreement, the compensation mechanism, and all the decisions that have been agreed upon, to ensure the stability of the global oil markets," SPA reported.

(Reporting by Nayera Abdallah; Editing by Leslie Adler)