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Thu 17 Nov 2016 05:40 PM

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Qatar says asking Iran, Iraq to freeze oil output at current levels

Energy minister Mohammed Al Sada makes plea to restrain production

Qatar says asking Iran, Iraq to freeze oil output at current levels
Qatars Energy Minister, Mohammed bin Saleh al-Sada. (Fayez Nureldine/AFP/Getty Images)

Qatar's Energy Minister Mohammed Al Sada said on Thursday that Iran and Iraq were being asked to freeze oil output at current levels as part of a wider deal to restrain production.

"We are discussing with both countries on that and we are looking at various ways and means of coming to a mutual understanding," Sada told reporters.

The energy minister also said that Qatar, the world's top LNG exporter, expects falling investment to help balance supply and demand in the natural gas market.

In coming years, however, he said surplus production would weigh on gas prices.

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