DUBAI (.) – Iraq and Saudi Arabia said on Saturday they will continue to work to balance the energy market and emphasized their commitment to production cuts agreed by the Organization of the Petroleum Exporting Countries (OPEC) and allied nations, including Russia, reported the Saudi SPA news agency.
The comments came after Iraqi Finance Minister Ali Allawi, who is the acting oil minister, visited Saudi Arabia to discuss the oil market with the Saudi energy minister, according to the SPA report.
Both sides said they were satisfied with the improved conditions in the oil market, the agency added.
The Al Arabiya channel reported that Iraq agreed to allow Saudi oil companies to invest in the Akkas gas field.
The Akkas field, located in the Iraqi province of Anbar, near the border with Syria, is the largest in Iraq.
(Report by Samar Hassan, written by Lisa Barrington. Edited in Spanish by Marion Giraldo)