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.
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.