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Oil market sees improved demand, decline in surplus supply: Iraq minister

Iraqi Oil Minister Ihsan Abdul Jabbar said on Sunday that the oil market has seen an improvement in demand and a decline in surplus and stockpiles

Topics
oil market | Oil demand | crude oil supply

Reuters  |  CAIRO 

CAIRO (Reuters) -Iraqi Oil Minister Ihsan Abdul Jabbar said on Sunday that the oil market has seen an improvement in demand and a decline in surplus and stockpiles. His statement follows an agreement by OPEC+ ministers on Sunday to boost oil supplies from August. "The meeting emphasised strengthening collective cooperation, praising the countries' compliance with the agreement, and the positive development in increasing demand for crude, as well as the decline in stocks and oil surplus, which is a positive and influential indicator," Abdul Jabbar said. Total ...

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First Published: Sun, July 18 2021. 21:38 IST
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