Iraq will be fully compliant by October with agreed oil output cuts under an OPEC-led supply deal and Baghdad’s reduction will amount to 175,000 barrels per day (bpd), Oil Minister Thamer Ghadhban said on Thursday, according to Reuters.
He said the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, would have to accept and deal with the fact that Iran and Venezuela, whose exports have collapsed due to sanctions, would come back to oil markets in a 'normal way'.
He said the energy ministers of Saudi Arabia, Russia and Kuwait were expected to visit Iraq on September 26.
KI/PR