Iraq supports OPEC policy to protect its share in the market

to keep output steady despite the pressures faced by its country's budget.

OPEC holds (the Organization of Petroleum Exporting Countries) its next meeting in June, apparently heading to keep policy unchanged.

Janabi said that would be a step approved by Iraq.

Janabi told journalists during a visit to the Qatari capital of Iraq with the general consensus in OPEC that there should be no "fighting for the price, but for market share."

He added that OPEC should not pay the "price" of the other producers by producing their maximum energy and taking the market from the organization.

In November, Saudi Arabia persuaded the largest oil exporter in the rest of the members of OPEC to keep output unchanged to defend its share of the market.

This move contributed to accelerate the already steep decline in oil prices from the high levels above $ 100 a barrel was recorded last year, which provoked abundant supplies with weak demand.

The international Brent crude closed on Wednesday, up $ 1.37, or 2.5 percent, at $ 56.48 a barrel.

Janabi was asked about the possibility that Iran increase its output if it had reached agreement on its nuclear program, which may expose the crude prices to more pressure, he said that countries that have large reserves must examine long-term strategic elements of continuity available to them.

He said that Iran, Iraq and Saudi Arabia should take care and focus on their markets because they are countries have large reserves look at the long term rather than immediate responses acts on price movements.

Iraq's debt –second largest oil producer in OPEC- are increasing owed to oil companies that develop giant fields. AsWestern oil companies are operating in the oil fields in southern Iraq under the service is currently based on a fixed dollar fee for producing additional quantities.

As a result of falling oil prices to half the amount of crude required to pay dues companies almost doubled, which reduces revenue for the government that is fighting ISIS terrorist organization.

Janabi added that "We started discussions with the oil companies and study the problem that we face."

He said that the government is having talks with companies to try to modify the terms of the contracts so to pay dues as a part of the increase in production and revenues to the companies "instead of payment regardless of price and revenue