Ihsan Abdul Jabbar, Iraq’s new appointed Oil Minister, declared in a phone call with Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman that the country will have full commitment in adhering to the OPEC+ crude oil production cut deals. OPEC+, consisting of the oil producer countries and its allies, has agreed upon online meeting last Saturday (June 6) to extend their output cuts of 9.7 million barrel/day into July, an amount of approximately 10% global supply.
Iraq Oil Minister Abdul Jabbar said the country is fully committed to complying 100% in the OPEC+ deals in June and July, in reason to the only around 50% of compliance are made before the OPEC+ meeting last Saturday, due to the new government changing, and new oil minister has just been appointed recently.
