MOSCOW (Sputnik) – Luaibi added that Iraq was going to increase its oil reserves by boosting exportation and investment activities.
"We are working on the policy of achieving balance within OPEC and strengthening the role of Iraq," Luaibi said as quoted in a statement on the Oil Ministry’s website.
Baghdad is interested in cooperation with neighboring states to achieve common goals, he noted.
Luaibi was appointed as the new oil minister by the Iraqi parliament on Monday. He previously served as the head of the state-run South Oil Company.
