Oil is in the way of stabilization

According to the Minister of Iraq, Jabar al-Luaibi, the world oil market is on the right track and will continue to balance until the end of 2018. Stabilization has been given due to oil cuts, started at the end of 2016 and the reduction of global oil stocks. The junction of the factors puts the market in a favorable position.

The reduction in production has given so certain that OPEC members and countries outside the cartel like Russia have agreed to continue with the cuts until the end of 2018. As they say in the popular saying, "Do not move on the winning team."

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