Mubasher: Iraq’s oil minister projected “an improvement” in oil prices in 2019, following the decision by members and non-members of the Organization of Petroleum Exporting Countries (OPEC) to reduce output.
Speaking at the 101st meeting of the Organization of Arab Petroleum Exporting Countries (OAPEC) in Kuwait, Thamir Ghadhban said he was “optimistic that the current fall in prices will stop because there is no more oversupply in the market.”
Meanwhile, Qatar’s energy minister Saad Al-Kaabi said it was a difficult period for oil prices, according to Reuters. There is an oversupply “with no justification,” he said.
Earlier in December, OPEC members and non-members decided to curb output in a bit to bolster oil prices.
