Iraq Begins to cut Oil Production

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)

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