“Iraq is currently negotiating with interested parties to reach a new agreement that will stabilize the oil market and put an end to the drop in oil prices,” RIA Novosti quotes Jihad.
He recalled that the previous agreement to limit oil production ends at the end of March.
“We intend to use this time to urge OPEC member countries and non-member organizations to reach an agreement that will return balance to the global oil market,” he said.
The representative of the Ministry of Oil emphasized that "a drop in oil prices will cause significant harm, especially to producing countries."
Also, he said, the Iraqi side "made significant efforts to bring together the views of Saudi Arabia and Russia at the OPEC meeting in Vienna a few days ago."
Earlier, as a source said, Saudi Arabia stated that it had not declared Russia a price war in the oil market and still considers Moscow to be its most important partner.
On March 9, oil prices fell more than 30% after the OPEC + meeting, which culminated in Russia's withdrawal from the deal.
Later, Brent and WTI crude oil recovered about a third of the collapse during the auction.