Iraq cuts its oil production

Iraq confirmed on Friday its commitment to the Organization of Petroleum Exporting Countries (OPEC) agreement to cut oil production, saying it would keep crude production at 4.513 million bpd in the first half of 2019.

Oil Minister Thamer Ghadhban said in a statement , He instructed oil officials to take urgent action to commit to reductions.
"The ministry is keen to stabilize production throughout the country at an average of 4.513 million barrels (daily) for the next six months," according to Reuters.
OPEC, Russia and other non-OPEC members, in an alliance known as OPEC in December, agreed to cut supply by 1.2 million bpd in 2019.

The quota of OPEC of those reductions 800 thousand barrels per day, while the share of Iraq, including 140 thousand barrels per day.

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