Business

Iraq backs OPEC’s existing plan for gradual output rise, ministry says

Iraq backs continuing OPEC’s existing plan to raise the group’s output by 400,000 barrels per day (bpd) each month since August, the oil ministry said on Thursday, saying the outlook for the oil market was unclear due to turbulence in global markets.

The Organization of Petroleum Exporting Countries was cautious about increasing or decreasing oil supply because oil markets remained fragile, the ministry said in a statement carried by the state news agency.

For all the latest headlines follow our Google News channel online or via the app.

Read more:

UAE fully committed to OPEC+ agreement, has no ‘prior stance’: WAM

Oil steadies near $80 after US taps emergency reserves to release 50 mln barrels

UAE, opening oil and gas summit, says no unplugging from hydrocarbons

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending

Exit mobile version