According to a statement released by Iraqi Oil Minister Jabar al-Luaibi on Monday, oil prices still need more support and producers should act wisely without being influenced by conflicting calls to pump more oil.
“¢ Should not exaggerate the need for the oil market for more supplies
“¢ Iraq has reduced production and applied December 2016 OPEC agreement.
“¢ Rejects unilateral decisions by some oil producers that act without consulting the other OPEC members of the OPEC+ agreement.
“¢ Iraq one of the first countries to affirm the extension of the 2017 agreement despite the challenges it faced.
“¢ Producers within and outside OPEC have not yet reached planned target following historic decision to cut production.
“¢ Warns that unilateral decisions on oil output could constitute a breach of OPEC, non-OPEC cut deal and could lead to its collapse.
Share
