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Iraq reafirms commitment to OPEC production cuts

Iraq said on Friday it was committed to the OPEC+ output-cutting deal and would keep its oil production at 4.513 million barrels per day for the first half of 2019.

Iraqi Oil Minister Thamer Ghadhban said in a statement that he had directed oil officials to take urgent measures to comply with the cuts.

“(The minister) reaffirmed the ministry’s commitment to keep national oil production at an average of 4.513 million bpd in the next six months,” the statement added.

The Organization of the Petroleum Exporting Countries, Russia and other non-members, an alliance known as OPEC+, agreed in December to reduce supply by 1.2 million bpd in 2019. OPEC’s share of that cut is 800,000 bpd.

Source: Reuters

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