Saudi Arabia, Iraq Stress Full Commitment To OPEC+ Deal
Category:
BUSINESS
The Iraqi News Agency said on Friday that Saudi Arabia and Iraq confirmed their full commitment to the OPEC + agreement.
Iraq had said on Thursday that it would implement additional cuts to its oil production by about 400,000 barrels per day in August to compensate for excess production in the past period under the OPEC + agreement to cut production.
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, the so-called OPEC +, began a record supply cut in May to support oil prices that have been hit by the coronavirus crisis.
Iraq cuts its production by 1.06 million barrels per day, under the agreement.
Prepared by Mustafa Saleh for the Arabic Bulletin
SOURCE : SAUDI 24
07 Aug, 2020
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