Iraq Committed to OPEC Oil Output Cut: Minister
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Iraq Committed to OPEC Oil Output Cut: Minister

ERBIL — Iraqi Oil Minister reiterated his country’s commitment to an oil output cut led by the Organization of the Petroleum Exporting Countries (OPEC) which is devised to control international oil prices.

Thamer Ghadhban said Iraq will not unilaterally boost production until OPEC decides on the matter.

Oil exports from Iraqi oilfields in the month of April generated more than $7 billion for Baghdad.

It exported 3.47 million barrels of oil per day (bpd) in April, which made the export just under 104 million.

Authorities previously said the country has the capacity to produce 4.6 million bpd.