Iraq is Committed to OPEC’s Oil Output Cuts, Minister Says

Iraq is committed to the voluntary oil production cuts agreed upon by OPEC and is keen to cooperate with member countries to achieve greater stability in global oil markets. In 2024, Iraq exceeded its production quota, prompting OPEC+ members to request compensatory reductions in output until the end of the year. Iraq’s commitment to these additional cuts ahead of the June OPEC+ meeting is expected to help stabilize the oil market.