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Iraq Oil Minister HE Ihsan Abdul Jabbar Ismaael said in a local media outlet that the OPEC’s second-largest oil producer will not ask for an exemption from the OPEC+ oil output cut deal.

Key quotes

“Oil prices are expected to reach about $50 at the beginning of 2021.”

“The commitment of members to the deal would help boost oil prices and Iraq was not seeking exemption “fearing from a new retreat in oil prices.”

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