OPEC set for rollover, may discuss deeper oil curbs: Iraq - Reuters:
OPEC is expected to roll over a deal on cutting supplies at a meeting next week and discuss deepening the curbs that have been in place since Jan. 1, Iraq’s oil minister on Thursday.
A deal between the Organization of Petroleum Exporting Countries and allies including Russia to curb output by 1.2 million barrels runs out at the end of June. Meetings on July 1-2 in Vienna will discuss the next steps.
“The rollover at least would be at the same level because it has not been very effective, it has been effective to a certain level to minimize the glut in the market, but there are now ideas or calls for agreeing (on) even more,” Oil Minister Thamer Ghadhban said.
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