Iraq agrees to nine-month extension of OPEC production cut: minister
Iraq has agreed to a nine-month extension of a production cut pact among OPEC members that is aimed at boosting crude prices, the country's oil minister said on Monday. "We are in agreement with the kingdom (of Saudi Arabia)... to continue the production cut" for another nine months, Jabbar al-Luaybi told a news conference in […]Iraq has agreed to a nine-month extension of a production cut pact among OPEC members that is aimed at boosting crude prices, the country's oil minister said on Monday.
"We are in agreement with the kingdom (of Saudi Arabia)... to continue the production cut" for another nine months, Jabbar al-Luaybi told a news conference in Baghdad alongside the Saudi energy minister, Khalid al-Falih.
"After our conversation with the prime minister, he gave the green light to his excellency (the Iraqi oil minister) to approve" the nine-month extension, Falih said.
