The Ministry of Oil of Middle East Iraq, OPEC, a major country of the Organization of Petroleum Exporting Countries, issued a statement, and the crude oil market is still open, as the United States and Japan cooperate to decide to release oil reserves in response to soaring crude oil prices. He was cautious about increasing production as it was unstable.
The Iraqi Ministry of Oil issued a statement on the 25th, saying that the effect of the announcement that the United States and Japan will cooperate to release a part of the oil stockpiling is limited as "there is no big impact in the short term". Showed the idea of.
On the other hand, regarding the response of oil-producing countries, "OPEC has made careful decisions to increase or decrease production, and it has been successful so far. The crude oil market is still unstable, and additional production increases lead to price collapses and oversupply. He said he was cautious about increasing production.
OPEC member countries and oil-producing countries such as Russia will discuss crude oil production from January next year next week.
Member states UAE = United Arab Emirates and Kuwait issued a statement on the 25th that "the position has not been decided before the talks", but OPEC-led Saudi Arabia has released oil stockpiling by the United States and other countries. So far, the focus has been on how oil-producing countries will respond to increasing supply by consuming countries.