Iraq Reaffirms Commitment to OPEC+ Oil Production Cuts

Baghdad: Iraq has reiterated its commitment to reducing crude oil production in line with agreements made by the OPEC+ group. The Iraqi government also emphasized its ongoing efforts to develop the nation's oil and gas sectors. According to Kuwait News Agency, the announcement followed a meeting between Prime Minister Mohammad Al-Sudani and Oil Minister Hayyan Abdulghani. During the meeting, Iraq's commitments concerning oil production and future projects were discussed, with a focus on the importance of collaboration among oil-producing countries to ensure global market stability. The Prime Minister's media office reported that Iraq remains dedicated to the agreed production schedule. Prime Minister Al-Sudani also highlighted the government's developmental strategy, which includes enhancing investments in fields, gas projects, and oil derivative projects. This statement underlines Iraq's broader economic objectives amidst its adherence to OPEC+'s production policies. Iraq had previously confirmed its comm itment to these policies during a visit by OPEC's Secretary General Haitham Abulgheis, signaling its alignment with the organization's strategic goals.