Iraq confirmed its intention to cut oil production in June and July

Baghdad intends to adhere to agreements to reduce oil production and decrease in June—July and beyond. This was stated by new Minister of oil of Iraq Ihsan Abd al-Jabbar during a telephone conversation with Minister of energy of Saudi Arabia Abdulaziz bin Salman al Saud, RIA “Novosti” with reference to the press service of the Ministry of Iraq.

in addition, Abd al-Jabbar discussed with the Saudi counterpart of the situation on the world oil markets and OPEC efforts+ to stabilize the situation and said that Iraq supports the efforts of OPEC member countries and intends to adhere to the agreements “despite financial and economic difficulties”.

Recall the new agreement, OPEC+ achieved may involve the reduction of oil production to 9.7 million barrels per day by the end of July, to 7.7 million before the end of 2020, and 5.8 million by the end of April 2022. In this country, nedosypayuschie its obligations in may and June should compensate for this from July to September.

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