Iraq Says OPEC+ to Mull More Cuts, Jarring With Group Stance - Bloomberg

Iraq Says OPEC+ to Mull More Cuts, Jarring With Group Stance - Bloomberg:

Iraq said that OPEC and its allies will consider deeper production cuts, though the comments come after the coalition has widely signaled reluctance to take such action.

The reduction could be about 400,000 barrels a day, Iraq’s oil minister Thamir Ghadhban told reporters in Baghdad on Sunday, adding that Iraq complied with its commitment to lowering output in November. “This figure has been discussed and reached between OPEC ministers as a result of careful studies.”

“There are viewpoints for OPEC+ to do further cuts, but not as big as 1.2 million barrels a day,” Ghadhban said. “Such cuts will lead to market stability, maintain shipments to consumers.”