Baghdad to go along with OPEC decisions on oil supply
- Date: 30-Oct-2020
- Source: Arab Weekly
- Sector:Oil & Gas
- Country:Middle East
Baghdad to go along with OPEC decisions on oil supply
BAGHDAD – Iraq will support said Friday it will support any decision made by OPEC and its allies on future oil supply policy after OPEC and industry sources told Reuters some producers would prefer to pump more from January rather than extend output curbs.
In a statement, Iraqi Oil Minister Ihsan Abdul Jabbar denied the Reuters report that had earlier suggested that Iraq and other countries were debating whether they should roll over existing oil cuts into 2021.
De-facto OPEC leader Saudi Arabia and non-OPEC Russia are in favour of extending existing oil production cuts of around 7.7 million barrels per day (bpd) into next year. They want to maintain cuts because fuel demand worldwide remains depressed due to the coronavirus pandemic's impact on population movement and economic activity.
Extending existing curbs would mark
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