Iraq, Algeria agree to continue to reduce petroleum exports

Iraq and Algeria agreed yesterday on the importance of continuing to reduce petroleum production.

This came during the meeting between Algerian Minister of Energy and Mines Youcef Yousfi, the current head of OAPEC (the Organization of Arab Petroleum-Exporting Countries) with Iraqi Minister of Petroleum Amer Mohamed Rashid.

They discussed bilateral cooperation in the field of gas and petroleum and signed a contract that allows the Algerian Company Sonatrach to explore and develop an Iraqi petroleum field, but the date of signing has not yet been determined.