Oil: Iraq committed to OPEC voluntary production cut agreement
Mawazine News – Baghdad
Oil Minister Hayan Abdul Ghani announced on Sunday Iraq’s commitment to the OPEC voluntary production reduction agreement, while noting that what is being raised about its non-compliance is a unhealthy.
“The Ministry of Oil confirms its commitment to the agreement to reduce production in OPEC,” Abdul Ghani said, pointing out that “the ministry is keen on the cooperation of member states and work to achieve more stability in the global oil market by agreeing on voluntary reduction programs.”
He added that “Iraq confirms its role in the OPEC+ Group and therefore is keen to abide by the agreement,” noting that “Iraq has already confirmed its commitment to the agreement and announced its export and productive program for the period from June to the end of the year.”
He stated that “a program has been put in place to compensate for the increase in production volumes during the last period,” pointing out that “what has been raised about Iraq’s non-compliance with the voluntary reduction is inaccurate.”
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