Investing.com UK - Financial Markets Worldwide
💥 Fed cuts sparks mid cap boom! ProPicks AI scores with 4 stocks +23% each. Get October’s update first.Pick Stocks with AI

Iraq says committed to OPEC+ oil output reduction

Published 04/01/2019, 10:21
Updated 04/01/2019, 10:25
© Reuters. FILE PHOTO: Oil tanks are seen at the gas field of Siba in Basra

DUBAI (Reuters) - Iraq said on Friday it was committed to the OPEC+ output-cutting deal and would keep its oil production at 4.513 million barrels per day for the first half of 2019.

Iraqi Oil Minister Thamer Ghadhban said in a statement that he had directed oil officials to take urgent measures to comply with the cuts.

"(The minister) reaffirmed the ministry's commitment to keep national oil production at an average of 4.513 million bpd in the next six months," the statement added.

© Reuters. FILE PHOTO: Oil tanks are seen at the gas field of Siba in Basra

The Organization of the Petroleum Exporting Countries, Russia and other non-members, an alliance known as OPEC+, agreed in December to reduce supply by 1.2 million bpd in 2019. OPEC’s share of that cut is 800,000 bpd.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.