Iraq said it is willing to cut its crude oil output as part of OPEC’s plan to reduce global supply and boost crude prices.
The country’s Prime Minister Haider al-Abadi made the remarks to reporters on Wednesday.
He said:”What we lose in lowering production we will gain in oil revenues. Our priority is to raise the price of a barrel of crude.”
The comments by Abadi are the clearest indication that Iraq will support an OPEC plan to cut production by between 4 to 4.5% when it meets on November 30th in Vienna.
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