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Iraq renews its support for the OPEC+ Agreement: Minister

OIL

Iraq has renewed its support for the OPEC+ and commitment to voluntary reduction, Deputy Prime Minister for Energy Affairs and Oil Minister Hayyan Abdul Ghani said according to the Iraqi News Agency

  • "Abdul Ghani chaired a meeting that included a number of officials in the Iraqi Oil Marketing Company SOMO, and stressed that Iraq's support for the agreement comes within the framework of joint efforts to achieve balance and stability of oil markets," the Ministry of Oil said in a statement.
  • Iraq’s crude production in November was on averaged 127k b/d below its OPEC+ target, according to ArgusMedia.
  • However, Iraq had been a consistent overproducer, exceeding its current OPEC+ target by 123k b/d from Aug-Oct.
Energy BulletsCommodities
Energy BulletsCommodities

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