Economics
Iraq supports OPEC-led oil output cuts, president says
Iraq supports OPEC’s agreement to cut oil output, Iraqi President Fuad Masum said at a meeting on Monday with OPEC Secretary-General Mohammad Barkindo. Masum stressed the “need to support the deal to cut crude oil supply” according to the state-run Iraqi Media Network website. Iraq has limited its output in line with OPEC’s pledge to cut supply by about 1.2 mn bpd as part of a deal with Russia and other nations. OPEC and those non-member producers are cutting their combined oil output by 1.8 million bpd until the end of 2018.
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