Iraq's Oil Ministry: OPEC strategy has been successful so far

Iraq’s Oil Ministry is out with a statement on Thursday, lauding the efforts of OPEC to maintain the oil market stability.

Key quotes

“OPEC strategy has been successful so far.”

“OPEC is cautious about pumping and reducing oil supply.”

“OPEC does not want to lose this success because oil markets remain fragile.”

“Any additional quantities can lead to collapse in price or oversupply.”

Related reads

• US oil export ban would backfire, further slow response – Goldman Sachs
• WTI Price Analysis: 50-DMA guards immediate upside