Iraqi Minister of oil stresses the need to increase oil investments
Shafaq News/ The Iraqi Oil Minister, Ihsan Abdul-Jabbar Ismail, stressed the need to increase investments and support projects to develop the gas sector to meet the growing need for clean fuels in global markets.
This came on the sidelines of his participation in the work of the World Energy Forum week in Russia, which opened yesterday, according to a statement issued by the Iraqi Oil Ministry today.
The Minister of Oil pointed to the importance of regulating the global gas market, and speeding up the organization of mechanisms to achieve the required balance between supply and demand, by the producing countries.
He also called for addressing the state of confusion in global markets as a result of the shortage of supplies by the producing countries.
Oil prices could reach $100 a barrel, Russian President Vladimir Putin said on Wednesday, adding that Moscow and its partners in the OPEC+ producer group are seeking to stabilize the global market.