Iraq Cuts Oil Production Per OPEC Deal: Ministry

Iraq cuts oil production per OPEC deal: ministry

BAGHDAD, Jan 5, (UrduPoint / Pakistan Point News - 05th Jan, 2017 ) - Iraq has cut crude production by some 200,000 barrels per day as part of an OPEC oil cartel agreement aimed at boosting flagging prices, the oil ministry's spokesman said Thursday.

"Iraq reduced its production to around 4.6 million barrels (per day)" from more than 4.8 million, Assem Jihad told AFP. The Organization of the Petroleum Exporting Countries agreed last year to cut production to reduce a global supply glut that had kept prices painfully low.