(MENAFN) On Sunday, Iraqi Foreign Minister Fuad Hussein had discussions with US envoy Amos Hochstein in the capital Baghdad to talk over tensions in the region along with their effect on oil rates.
The discussions shed light on regional wars and their impact on energy rates in addition to investments in the Iraqi oil sectors, as reported by an Iraqi news outlet.
Hochstein declared that US is eager to bolster collaboration with Iraq, specifically in oil and gas sectors, the news agency added.
Iraq is thought to have a supply of 132 trillion cubic feet of gas, with approximately 700 billion cubic feet wasted due to lack of utilization.
Iraq aims to establish itself as a gas-exporting nation by the year 2025.
Heightened tensions have spread throughout the region following Israel's aggressive actions in the Gaza Strip, resulting in a death toll exceeding 32,200 people since last October.
The conflict in Gaza has extended to Yemen, where the Houthi group has targeted commercial vessels in the Red Sea, a vital maritime route for oil and fuel transportation.
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