By John Lee.
Iraq has begun reducing its crude oil output from the start of the year, in line with its OPEC commitments.
Iraqi oil minister Jabar Ali al-Luaibi [Allibi] said in a statement on Thursday:
“Iraq confirms its commitment to the decision of OPEC, which was taken during the last meeting in Vienna, by implementing a plan to cut production from the national fields from the beginning of 2017.”
The statement did not elaborate on current production, or on how the cuts will be allocated.
(Source: Ministry of Oil)