Russia discusses oil market with Iraq and Saudi Arabia

According to a statement posted on the Russian government website on November 26, tripartite talks were held in Baghdad with the participation of Russian Deputy Prime Minister Alexander Novak and the Iraqi and Saudi Arabian Ministers of Energy.

Representatives of the three countries discussed the situation on the oil market, the OPEC+ deal, and compensation for overproduction of oil production as well as the role of OPEC+ in maintaining stability in the markets.

"They also emphasized the importance of cooperation among OPEC+ countries, reaffirming their full commitment to the agreement and voluntary production cuts. This includes the voluntary cuts agreed by the eight participating countries, as well as compensation for any excess production",

the press service of the Cabinet of Ministers said.