Iraq is fully committed to the OPEC+ cut deal -oil minister

Commodities & Futures
© Reuters. FILE PHOTO: The logo of the Organisation of the Petroleum Exporting Countries (OPEC) sits outside its headquarters in Vienna © Reuters. FILE PHOTO: The logo of the Organisation of the Petroleum Exporting Countries (OPEC) sits outside its headquarters in Vienna

BAGHDAD (Reuters) – Iraq’s new oil minister Ihsan Abdul Jabbar affirmed in a phone call with Saudi energy minister Prince Abdulaziz bin Salman Iraq’s full commitment to the OPEC+ production cut deal, the oil ministry said in a statement on Monday.

OPEC, Russia and other producers agreed on Saturday to extend record output cuts of 9.7 million barrels per day into July, curbing global supply by almost 10% amid a steep slump in demand due to the coronavirus pandemic.

Abdul Jabbar said his country is fully committed to cut its production in June and July in compliance with the OPEC+ deal, and also is committed to the production cut deal agreed after June and July.

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