August 16, 2016 / 12:36 PM / in 4 years

Iraq aims to work with OPEC to achieve balance in group - oil minister

BAGHDAD (Reuters) - Iraq’s new oil minister Jabar Ali al-Luaibi said on Tuesday he is looking forward to work with OPEC to achieve balance within the exporting group and “strengthen the role of Iraq”.

Luaibi, who was confirmed in his new post by the Iraqi parliament on Monday, also said he has “big plans” to increase the OPEC member’s oil and gas production and add to its reserves through new exploration and more investments.

“We will work to draw up stable policies and work to achieve balance within the Organization of the Petroleum Exporting Countries,” Luaibi said in a statement.

Reporting by Maher Chmaytelli; Writing by Rania El Gamal; Editing by Adrian Croft

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