Iraq: It is too early to decide on the extension of OPEC production cuts


Economy News / Baghdad ...

Said Iraqi Oil Minister Ali Jabar Luaibi, Monday, that it was premature to say whether it should extend to OPEC production cuts.

Allaibi said at a conference of the energy sector in Houston, and I followed, "Economy News", that "it is too early to say whether it should be for OPEC to extend production cuts," pointing out that "Baghdad is ready to participate if the organization decided to extend the restrictions before the second half of year. "

He Allaibi it was "too early to talk about any changes," noting that "it will depend on oil prices and stabilize the market and OPEC decided cuts, Iraq will be reduced."

Members agreed OPEC and some countries from the outside to reduce oil production by 1.2 million barrels, an effort to raise the oil, which amounted to less than $ 25 in January 2016 prices.