Iraq plans to re-export oil through Saudi Arabia

in its meeting in Vienna on 27 of last November, not to cut production and prices ,leaving the reins to the market.

Abdul-Mahdi said in an interview with “A-Sharq al-Awsat” newspaper that at Ryan meeting to address the decline in oil prices, first presented by Saudi Oil Minister ,Ali al-Naimi, while the other proposal presented by the Algerian Energy Minister , Youcef Yousfi.

The viewpoint of al-Naimi described by Abdul-Mahdi as "the Saudi theory" was based on leaving prices fall till all marginal producers who need high oil price leave the market to continue their production, and thus (OPEC) get rid of surplus without loss of one barrel of its market share .

The Algerian proposal was based on (OPEC) to reduce 5 per cent of its production, equivalent to about 1.5 million barrels per day.

Abdul-Mahdi also expressed interest in dialogue with Saudi Arabia about a lot of important files, including his hope in the return of Iraqi oil exports from Saudi ports through Saudi – Iraqi pipeline, which was closed after the second Gulf War in 1990.