Abdul Mahdi: Iraq to Watch non-OPEC Production

By Simon Kent.

Iraq’s oil minister Adel Abdul Mahdi (pictured) has spoken to Reuters regarding Iraq’s position on OPEC’s failure to agree on a production ceiling as the battle to drive out shale production continues.

Abdul Mahdi said that Iraq was now looking at the “real world” and that they would have to monitor production in countries such as Russia and the US, and potentially coordinate with those producers.

The alternative, he said, was for non-OPEC producers to risk cutting production and losing both production and cost if actions were not coordinated to defend prices.

(Source: Reuters) 

 

 

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