Iranian-Iraqi conspiracy to foil Algeria’s endeavor

The Organization of the Petroleum Exporting Countries are expected to meet on Wednesday to examine an Algerian proposition to cut production or a cut in crude production. Iran and Iraq wants to foil the Algeria Agreement and distract the decision to reduce each country’s production share, Echorouk has learnt.

According to senior officials, the Algerian ministry received official reports from the OPEC’s administration office. They showed that Iran and Iraq tried to affect the Algeria Agreement on oil price.

A technical commission which was established after the Algeria meeting is informed about the Iranian-Iraqi attempt. Because of that, it proposed to implement the Agreement for a year starting from next January. It would be revised in the end of June.

Algeria’s energy minister Nourredine Bouterfa flied to Tehran and Moscow to get support for the Algeria Agreement.

Algeria proposed that the OPEC countries would cut production to 32.5 million barrels per day from their October level of 33.6 million.