Iraq’s Oil Minister Jabar al-Luaibi crossed the wires in the last hour, via Reuters, saying that Iraq is keen to keep prices stable and oil markets well supplied.
Additional quotes:
“¢ Iraq has promising capacities to supply consumer needs for oil in future.
“¢ Iraq has the capacity to increase oil production to 6 million bpd now.
“¢ Iraq is committed to the OPEC production cut deal.
“¢ Iraq will not increase output unilaterally outside of OPEC and non-OPEC members’ agreement.
“¢ Will monitor markets to assess the needs at the next OPEC meeting.
“¢ No change in Iraq’s production and export policy, if markets do require more oil than this will be decided at the time.
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