Iraq has pledged to fully comply with oil cut deal, OPEC chief says

By REUTERS
April 2, 2017 10:54
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BAGHDAD - Iraq has given OPEC assurances it will fully comply with an agreement to cut oil supply in order to bolster crude prices, OPEC Secretary General Mohammed Barkindo said on Sunday.

Compliance with the deal agreed by OPEC and non-OPEC producers at the end of last year to cut supply is "encouraging," Barkindo told an energy conference in Baghdad.

"The focus is now to rebalance the market," he said.

He described as "very constructive" meetings he had on Saturday with Prime Minister Haider al-Abadi and other Iraqi leaders in Baghdad.

He saluted Iraq's "flexibility" in the talks that helped bring about an agreement between the Organization of Petroleum Exporting Countries and non-member oil producers

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