Iraq says fully committed to the OPEC+ cut deal

Iraq’s new oil minister Ihsan Abdul Jabbar affirmed in a phone call with Saudi energy minister Prince Abdulaziz bin Salman Iraq’s full commitment to the OPEC+ production cut deal, the oil ministry said in a statement.

Abdul Jabbar said his country is fully committed to cut its production in June and July in compliance with the OPEC+ deal, and also is committed to the production cut deal agreed after June and July, Reuters reported.

OPEC, Russia and other producers agreed on Saturday to extend record output cuts of 9.7 million barrels per day into July, curbing global supply by almost 10% amid a steep slump in demand due to the coronavirus pandemic.