(Bloomberg) — OPEC+ is focused on ensuring a steady supply of to global markets and isn’t targeting a specific price, Iraqi Oil Minister Ihsan Abdul Jabbar said Thursday.

At a Baghdad press conference, minister Raza said that the producer group intends to increase production by all of the 400,000 barrels per day.

Jabbar’s comments come amid concern that the Organization of Petroleum Exporting Countries and its allies are falling short of their pledged monthly increases, with several countries such as Angola and Nigeria struggling to meet targets. The U.S., India and other consumer nations have called for the Group to increase its pumping to lower prices which have increased by almost 60% in the past year.

“OPEC policy is not about lowering or raising prices,” Jabbar told reporters. “Rather it’s about achieving stability in energy supplies. OPEC’s objective is to prevent prices from collapsing. There is no target to reach a certain price.”

OPEC+ has been restoring production that was halted by the coronavirus epidemic last year. However, the alliance claims that supplies have been slowly restored and it is prudent to be cautious as global consumption risks remain.

Iraq will export approximately 3.2 million barrels a day of crude oil per day from its fields. This is according to the central government. Jabbar indicated that the number of crude oil exports will reach 3.4 million per day over the next quarter as OPEC+ reduces supply restraints.

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