Iraq Oil Report's Daily Brief compiles the most important news and analysis about Iraq from around the web.
OPEC's president signaled on Monday it could act to reduce a glut of oil that has knocked the price down towards double digits, but said it was unlikely to set individual country production quotas at a meeting this week. Abdul Kareem Luaibi, who also serves as oil minister of Iraq, said maintaining the price at [...]
Peg Mackey reports for Reuters:
OPEC's president signaled on Monday it could act to reduce a glut of oil that has knocked the price down towards double digits, but said it was unlikely to set individual country production quotas at a meeting this week.
Abdul Kareem Luaibi, who also serves as oil minister of Iraq, said maintaining the price at $100-$120 a barrel was "reasonable and acceptable", but repeatedly declined to specify what action if any OPEC might take when it meets on Thursday.
U.S. oil major Chevron is pressing forward with new drilling and exploration activities in Iraqi Kurdistan.
