Iraq 'Optimistic' About Oil Market Stabilization Agreement

© AP Photo / Nabil al-JouraniIraqi workers are seen at the Rumaila oil refinery, near the city of Basra, 550 kilometers (340 miles) southeast of Baghdad, Iraq
Iraqi workers are seen at the Rumaila oil refinery, near the city of Basra, 550 kilometers (340 miles) southeast of Baghdad, Iraq - Sputnik International
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Iraq is optimistic about the possibility of a deal which could stabilize oil output growth and reverse price drops.

ALGIERS (Sputnik) — Baghdad is optimistic that a deal could be reached to stabilize oil output growth and reverse price drops, Iraqi Minister of Oil Jabar Ali Luaibi said Tuesday.

"We are hopeful, optimistic," Luaibi told reporters.

A man rides a camel through the desert oil field and winter camping area of Sakhir, Bahrain, Sunday, Dec. 20, 2015 - Sputnik International
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Representatives of 73 International Energy Forum (IEF) members have converged in Algeria for the September 26-28 conference on oil-related issues. The informal meeting of 12 OPEC member states and possibly non-OPEC oil producers, like Russia, is expected to take place on September 28 on the sidelines of the IEF and set out plans to reverse the drop in global oil prices amid ongoing overproduction.

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