Iraq will continue to reduce oil production under the OPEC+ agreement
March 19, 2023 Latest News 0 Comments
March 19 (Reuters) – Iraq intends to maintain a 220,000 bpd oil production cut under the OPEC+ deal, Oil Minister Hayan Abdel Ghani said on Sunday.
Speaking at the Baghdad conference, Abdel Ghani also said that Iraq is ready to increase production if required by the OPEC+ alliance.
“We have ordered some oil companies operating in the south to cut production to meet agreed OPEC+ quotas,” he added.
According to the OPEC+ agreement, Iraq should produce no more than 4.43 million barrels of oil per day by the end of this year. (Moaed Kenani, translated by Olesya Astakhov)