Iranian Oil Minister Rostam Ghasemi has held talks with the Iraqi prime minister, insisting on the need to reach a unified position on the oil production quota in the upcoming summit of the Organization of the Petroleum Exporting Countries (OPEC).
The Iranian minister who is in Baghdad on an official visit met with Iraqi Premier Nouri al-Maliki on Saturday. During the meeting, both sides agreed on adopting a unified stance on oil production quotas within regulations of the OPEC, of which the two neighboring nations are members.
The two officials also emphasized on the need for all OPEC members to observe their production quota assigned by the organization.
The talks precede OPEC’s 161st ordinary meeting due to be held in Vienna on June 14.
Maliki and Rostami, furthermore, called for the expansion of economic ties and a quicker implementation of the previous trade agreements, namely the sale of Iranian petrol products to Iraq, oil production from joint fields.
Ghasemi also held discussions with Iraqi Oil Minister Abdulkareem Liaybi on Saturday, mainly focusing on the development of joint oil fields.
Based on current studies, Iran and Iraq share 23 joint hydrocarbon fields which are divided into exploration, developmental and production categories.
Iran shares oil and gas fields with most of its neighbors, including Persian Gulf littoral states such as Iraq, Kuwait, Qatar and Oman, as well as it northeastern neighbor Turkmenistan.