Iraq to Comply with Opec Supply Cuts

By John Lee.

Financial Times reports that Iraq will comply with OPEC-led efforts to restrict crude oil production, even as Saudi Arabia said it is striving to boost its export capacity.

It quotes Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] as saying that Iraq’s export capacity would reach 5m bpd by the end of this year, but adding that it will comply with OPEC declarations.

December output stood at 4.4 million bpd.

(Source: Financial Times)

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